Banking infrastructure company M2P Fintech has raised Rs 850 crore in Series D financing round, led by Helios Investment Partners, valuing the company at over Rs 6,550 crore. M2P’s existing investor Flourish Ventures also participated in the round.
The funds, raised through a mix of primary and secondary share sales, will be used to expand M2P’s operations in Africa. Chennai-based M2P also plans to enhance its technology stack, focusing on AI and advanced data capabilities, aiming to scale partnerships with financial institutions, the company said in a statement.
“We at Helios are delighted to be providing investment and operational expertise to support M2P’s international expansion, with a strong focus on Africa. Helios has a significant track record in growing fintech and financial services businesses on the continent, and this investment aligns with our strategy to invest in high-growth, tech-focused businesses,” said Elias Yazbeck, Managing Director, Financial Services and Fintech at Helios Investment Partners.
Helios, known for its expertise in Africa, is expected to play a key role in M2P’s expansion into the continent, where rising smartphone usage and demand for mobile-led financial services present significant growth opportunities. M2P also plans to expand in the ASEAN and Middle Eastern regions.
Founded in 2014 by Muthukumar A, Prabhu R, and Madhusudanan as an API (application programming interface) infrastructure company, M2P operates in over 30 markets and powers over 200 banks, 300 lenders, and 800 fintech engagements globally.
“As the world’s largest Banking-as-a-Service provider, this capital infusion will not only reinforce our leadership in India—where we’ve established a robust, comprehensive ecosystem—but also accelerate our ambitious global expansion efforts,” Co-founder and CEO Madhusudanan said.
“Africa, with its rapidly-growing digital economy and pressing need for financial inclusion, presents immense potential for fintech innovation. We’re thrilled to partner with Helios, whose deep understanding of the African market, coupled with our powerful platform capabilities, will position us well to deliver on our mission of fostering financial inclusion and innovation,” Madhusudanan added.
