Mon Sep 23 15:03:11 UTC 2024: ## M2P Fintech Raises ₹850 Crore, Plans Aggressive Acquisitions

Chennai-based fintech company M2P Fintech has secured ₹850 crore in a funding round led by Helios Investment Partners, with existing investor Flourish Ventures also participating. This latest investment values the company at over ₹6,550 crore.

M2P, which provides software services to banks and financial institutions, plans to utilize a significant portion of the funds, more than half, for acquisitions. This move aims to accelerate the company’s expansion both domestically and internationally, particularly in Africa.

“We need to look at some markets where we may need to intervene to contribute more quickly,” said Madhusudanan R., founder and CEO of M2P Fintech.

M2P’s revenue surged to ₹440.7 crore in FY23, up from ₹194.74 crore in FY22, indicating a significant growth trajectory. However, the company continues to operate at a loss, with the figure exceeding ₹134 crore in FY23. Despite the losses, M2P expects to achieve profitability by FY25.

The company is also exploring strategic expansion into Southeast Asia and the Middle East. M2P currently operates in over 30 markets across Asia Pacific, the Middle East, North Africa, and Oceania.

This latest fundraising brings M2P’s total capital raised to close to $200 million. The company plans to use the funds to expand its technology stack and introduce artificial intelligence solutions to enhance its offerings.

M2P’s strategy of using acquisitions to fuel growth is expected to solidify its position as a key player in the global fintech landscape.

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