The financing was led by Helios Investment Partners and places the company's valuation at over $785million. The round also saw participation from existing Investor Flourish Ventures.
With this investment, M2P hopes to accelerate its growth by enhancing its technology stack, focusing heavily on leveraging artificial intelligence and building out advanced data capabilities that will not only expand M2P's core offerings but also empower the company to scale its partnerships with financial institutions, delivering cutting-edge financial products and capabilities.
Over the past few years, M2P has strategically expanded its global footprint, with a strong emphasis on emerging markets. Africa now stands as the company's next major growth target.
With rising smartphone adoption and the increasing prominence of mobile-led financial services delivery,
M2P says it is well-positioned to capitalise on this opportunity. By leveraging its banking infrastructure, the company aims to deliver 'bank in a box" solutions alongside digital payments, credit card issuance, and a suite of financial services customised to meet the unique demands of local markets.
The company is also eyeing strategic expansions into select countries in the ASEAN region, besides enhancing its strong presence in the Middle East region, thereby aligning with its vision to build a truly global banking technology infrastructure business.
Madhusudanan R, M2P Fintech CEO and co-founder, said: "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.
"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."
Elias Yazbeck, managing director, financial services and fintech at Helios Investment Partners,
also added: "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."
