M2P Fintech, a digital banking infrastructure company, has raised about $102 million (₹850 crore) in its Series D funding round led by Africa-focused private equity firm Helios Investment Partners, per media reports.
The funding round, which involved a mix of primary and secondary capital raise, also saw participation from existing investors, including Flourish Ventures, as well as several Asia-based bankers, the reports said.
With the latest infusion, the Chennai-headquartered company has reportedly attained a valuation of Rs 6,550 crore, inching closer to achieving the unicorn status.
The funds will be utilised to solidify cement M2P’s market leadership in India, besides helping grow its international franchise, particularly in Africa.
Founded in 2014, M2P Fintech is an API infrastructure company offering a wide gamut of services that enable businesses to embed financial services. It currently works with over 300+ banks, 100+ NBFCs, and 800+ fintech engagements across various industries serving over 35 million end users.
The company currently operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions.
In April, M2P Fintech had raised about $4.2 million in debt funding from Anicut Capital. Before that, it had raised $56 million in its Series C1 funding round led by New York-based private equity and venture capital firm Insight Partners in January 2022.
