M2P Fintech raises $56 Million led by Insight Partners
Asia’s Banking Infrastructure leader accelerates global expansion plans
NEW YORK, Jan. 20, 2022 /PRNewswire/ — M2P Fintech, Asia’s leading financial Infrastructure company, announced a $56 million Series C1 raise led by New York-based global private equity and venture capital firm Insight Partners with participation from MUFG Innovation Partners, a CVC company of Mitsubishi UFJ Financial Group, Inc. (MUFG) – one of the world’s leading financial groups, existing investors Tiger Global and Better Capital. In total, the company has raised more than $100 million in the past year. The investment allows M2P to further build its technology and team, while accelerating its plans to expand internationally. M2P’s existing investors also include BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, and the DMI Group via its investment vehicle Sparkle Fund.
M2P Fintech, an API infrastructure company that enables businesses of any scale to embed financial products in their customer journeys, is the platform of choice for the burgeoning fintech ecosystem. Over 500 fintech companies dozens of Banks and other financial institutions leverage M2P’s API infrastructure to embed financial products. In the past year, M2P witnessed widespread adoption of its Buy Now, Pay Later (BNPL) + Programmable Credit card stack that allows BNPL companies to gain access to Visa Credentials, thereby helping them go to market rapidly. M2P Fintech operates in over 20 markets across Asia and North Africa.
Madhusudanan R, Co-Founder and CEO of M2P Fintech, commented, “The consequence of COVID-19 pandemic has accelerated the shift from in-person to digital consumption. This shift has forced businesses across the globe to move from brick and mortar to digital channels and, in doing so, has created an urgency for businesses to adopt an API platform like ours. We see an unprecedented opportunity to meet this need by bringing our leading platform to other fintech markets across Europe, Africa and Asia, while doubling down on key and emerging fintech markets such as the Philippines, Indonesia and Egypt.
We are very glad to get the backing of Insight Partners and looking forward to leveraging their deep understanding of working with fintech entrepreneurs across the globe as we look to expand into new markets. MUFG with assets across the Asia will be a key partner in the next phase of our growth.” added Madhusudanan R.
“M2P is India’s leading FinTech infrastructure-as-a-service company – they knit together the broadest set of banking and fintech relationships in the market and have built powerful products delivered as an API with a strong commitment to customer service,” said Nikhil Sachdev, Managing Director at Insight Partners. “M2P’s stellar founding team and rapid growth have established the company as a clear market-leader that is transforming financial innovation in the region. We’re excited to partner with Madhu and team as they continue to scale up.”
Mayank Shiromani, VP, MUFG Innovation partners, said: “We are excited about the growth of fintech and fintech-enabled businesses in India / SE Asia and we believe M2P has an important role to play in the ecosystem. Top start-ups in India already work with M2P. For financial institutions like MUFG, M2P unlocks new partnerships possibilities and provides tested technology for scaling digital offerings efficiently.”
About M2P Fintech
M2P Fintech, previously known as YAP, is an API infrastructure company that enables businesses of any scale to embed financial products in their customer journeys.
Our agile platform allows businesses to quickly create and deploy fintech products by simplifying the partnerships with Banks, PPIs, FIs, and other regulated entities. We provide deep domain expertise with significant speed to market while maintaining the core of our offerings’ scalability, security, and reliability.
Headquartered in Chennai, India, M2P operates in over 20 markets across Asia and North Africa. A few key markets apart from India include the United Arab Emirates, Australia, New Zealand, Nepal, the Philippines, Bahrain and Egypt. The company plans to expand its footprint to Indonesia, Bangladesh, Vietnam, and across the MENA region.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 3,000 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. For more information, visit https://www.mufg.jp/english.
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SOURCE M2P Fintech