M2P’s AI, strategic expansions, and custom solutions are paving the way for FinTech’s next big leap into global markets.
Chennai-headquartered M2P Fintech launched in 2014, offering API infrastructure, and has since evolved into a leading Banking-as-a-Service (BaaS) provider. The company operates in over 30 markets across the Asia Pacific, MENA, and Oceania regions, and its solutions power 200+ banks, 300+ lenders, and 800+ FinTech engagements serving over 50+ million end users. Among functionalities, M2P’s technology stack powers a core banking system, core lending suite, BNPL, Credit, Debit, & Prepaid cards, UPI, and robust data capabilities.
M2P Fintech has been actively setting the agenda for the future of financial technology by leveraging cutting-edge APIs, technology integration, and operational support. The company has made several strategic acquisitions to broaden its service offerings. In 2021, it acquired Wizi, a credit card-focused FinTech, and Origa.ai, a tech platform for managing collections operations. In 2022, M2P expanded further by acquiring Finflux and BSG, reinforcing its capabilities in lending technology and payment solutions. Most recently, in 2023, the company added Goals101, a behavioral intelligence platform that enhances its ability to deliver hyper-personalised consumer insights by analysing transaction patterns.
The company recently (in September 2024) raised INR 850 crores (approx. $101 million), valuing the group at more than INR 6,550 crores (approx. $779 million). The Series D financing round was led by Helios Investment Partners. The funds are being used to cement M2P’s market leadership in India and to help grow its international franchise, particularly in Africa. Helios is the largest Africa-focused private investment firm in the world, with more than $3.0 billion in assets under management. It is led and managed by a predominantly African team based in London, Lagos, Nairobi and Paris.
Commenting on the funding announcement at that time, Madhusudanan R, M2P Fintech Co-Founder said, “…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. 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.
Africa is seen as the company’s next major growth frontier, presenting great potential due to the continent’s rapidly evolving financial ecosystem. Leveraging its banking infrastructure, the company aims to deliver seamless “Bank in a Box” solutions alongside digital payments, credit card issuance, and a suite of financial services customised to the unique demands of local markets.
M2P is also eyeing strategic expansion into select countries in the ASEAN region, besides enhancing its strong presence in the Middle East region, aligning with its vision to build a global banking technology infrastructure business.
M2P is looking to accelerate its growth by enhancing its technology stack, focusing heavily on leveraging artificial intelligence (AI) and building out advanced data capabilities that will not only expand the company’s core offerings but also help to scale its partnerships with financial institutions.
How do you see the integration of AI and machine learning transforming your core services in the next few years?
“The integration of AI and machine learning is set to revolutionise our core services by enhancing decision-making processes, improving customer experiences, and automating routine tasks. We foresee AI enabling real-time data analysis, allowing us to create more personalised financial solutions that meet evolving customer needs.”
What strategic investments are you planning to make to enhance your technology stack and drive expansion, particularly in emerging markets like Africa?
“With the Series D funding, we plan to strengthen our technology stack by investing in advanced AI capabilities and data analytics. This will enhance our product offerings and support our expansion into Africa, where we aim to deliver innovative banking solutions tailored to local markets.”
What unique challenges and opportunities do you see in the Indian market, and how is M2P positioned to stay ahead?
“The Indian FinTech landscape presents vast opportunities, M2P’s strategy of fostering strong partnerships and leveraging its comprehensive technology infrastructure is key to navigating this competitive environment.
Regulatory Navigation: M2P is invested heavily in understanding and building a robust regulatory environment that is compliant and agile at the same time and continues to innovate rapidly.
Partnership Ecosystem: Fostering a strong relationship with clients and collaborating closely with regulated entities like banks, financial institutions, and other key stakeholders enhances M2P’s service offerings and market reach, facilitating greater innovation and responsiveness to market needs.
Technological Innovation: Our robust technology infrastructure enables us to deliver scalable and customisable solutions while being true to regulatory requirements in letter and spirit, catering to diverse client needs and driving efficiency.
Market Leadership: By continuously enhancing our product offerings and maintaining agility in product and process, M2P could solidify its position as a leader in the FinTech sector.”
FinTech partnerships with traditional banks are on the rise. How does M2P ensure seamless integration between these entities to foster financial innovation?
“M2P uses a combination of detection and prevention mechanisms to tackle the challenges of fraud prevention and cybersecurity. Fraud prevention includes transaction pattern recognition and anomaly detection. A PCI-DSS-certified environment with tokenisation, end-to-end encryption, and data masking is enabled where sensitive data is involved. User authorisations are restricted on a Zero Trust basis with JIT access. MFA is enabled for any access requirements. Detection controls include continuous real-time monitoring and advanced threat intelligence integration.”
What emerging technologies do you believe will have the greatest impact on improving operational efficiency and customer experience over the next five years?
“We believe that blockchain, AI, and advanced data analytics will significantly enhance operational efficiency and customer experience. These technologies will streamline processes, improve transparency, and allow for the creation of highly personalised services tailored to individual customer preferences.”
How do you envision the future of digital banking and financial services?
“The convergence of our technology stack will create a unified platform that streamlines access to various financial services. This integration will enable us to deliver comprehensive solutions that enhance user engagement and foster greater financial inclusion, shaping the future of digital banking into a more connected and customer-centric experience.”