M2P Fintech raises $100 million in Series D Financing led by Helios Investment Partners, valuation surpasses $785 million

Company to focus on new products that will strengthen its market leadership in India and expand operations in MENA and to Africa

Dubai, United Arab Emirates, 30th Sep 2024 - M2P, Asia's largest Banking infrastructure company, announced today the first close of its Series D financing, raising $100 million through a mix of primary and secondary share capital. The financing was led by Helios Investment Partners and places the company's valuation at over $785 million. The funds will be utilized to cement M2P's market leadership in India, besides helping grow its international franchise, particularly in Africa.

The round also saw participation from marquee Banks across Asia, with existing Investor Flourish Ventures doubling down on the company, underscoring strong confidence in M2P's innovative banking infrastructure, which powers a wide range of financial institutions across the globe.

Strengthening Leadership in Banking Infrastructure

M2P solidified its position as the leading banking infrastructure provider, collaborating with leading consumer technology companies, Banks, NBFCs, and startups to drive innovative fintech solutions. With this investment, M2P is vying 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.

Global Expansion, with Africa in Focus

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 frontier, presenting vast potential due to the continent's rapidly evolving financial ecosystem. With rising smartphone adoption and the increasing prominence of mobile-led financial services delivery, M2P is well-positioned to capitalize on this opportunity. 

By leveraging its robust 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 customized 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 s 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, said: “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.”

About M2P Fintech

The Chennai-headquartered M2P Fintech started in 2014 as an API infrastructure company, has rapidly evolved into the world's largest Banking as a Service company, powering the digital ambitions of banks, lenders, fintech, and consumer technology companies. M2P Fintech operates in over 30 markets across the Asia Pacific, MENA, and Oceania regions, and its innovative offerings power 200+ banks, 300+ lenders, and 800+ fintech engagements serving over 50+ million end users. The comprehensive technology stack powers the core banking system, core lending suite, BNPL, Credit, Debit, C Prepaid cards, UPI, and very robust data capabilities, among others.
 

About Helios Investment Partners

Established in 2004, Helios Investment Partners is the largest Africa-focused private investment firm, with a record that spans creating startups to providing expanding companies with growth capital and expertise. The firm has over $3.0 billion in assets under management and is led and managed by a predominantly African team based in London, Lagos, Nairobi and Paris, with the language skills and cultural affinity to engage with local entrepreneurs, managers, and intermediaries on the continent. Helios leverages its local and global networks to create attractive proprietary investment opportunities, with an emphasis on building market leaders in core economic sectors and driving performance through a highly engaged approach to portfolio operations. The firm's unique combination of a deep knowledge of the African operating environment, a singular commitment to the region, and a proven capability to manage complexity is reflected in its diverse portfolio of growing, market-leading businesses and its position as a partner of choice in Africa. Helios is the second mainstream private equity firm globally and the largest emerging markets- focused private equity firm to achieve B Corp certification. B Corp status recognizes the firm's longstanding commitment to sustainability and responsible business practices.

 

Media Contact

Organization: M2P ME

Contact Person: Aparajita Bakshi

Website: https://m2p.me/

Email: aparajita@m2p.me

City: Dubai

Country:United Arab Emirates

Release id:17572