M2P Fintech Aims for Unicorn Status with $80 Million Funding Round
M2P Fintech's Path to Unicorn Status
M2P Fintech is set to stir up the market with its latest funding round. The Chennai-based software services provider for banks is raising approximately $80 million in a mix of primary and secondary deals. Led by Helios Investment Partners, the funding also sees involvement from Bank Muscat.
Funding Round Details
- Helios Investment Partners is investing around $50 million, acquiring a stake of nearly 6.5%.
- Existing investors, including Beenext, are also participating.
- This round elevates M2P Fintech’s valuation to an estimated $850 million to $900 million.
Strategic Vision
The company is targeting expansion beyond India, particularly in the Middle East and Africa. This strategic shift aligns with Helios’ investment, indicating significant interest from major lenders in these regions.
Previous Investment Round
- Previous funding in January 2022 raised $35 million, valuing M2P at approximately $600 million.
Financial Performance
Despite the robust funding, M2P reported a net loss of Rs 134 crore against revenues of Rs 488 crore for fiscal 2023. Founded in 2014 by industry veterans, M2P offers a comprehensive software stack for core banking, debit card solutions, and various credit operations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.