M2P Fintech raises $56 mn led by Insight Partners, eyes global expansion

Financial Infrastructure company M2P Fintech has raised $56 million in its Series C1 raise led by New York-based global private equity and venture capital firm Insight Partners. The round also saw participation from MUFG Innovation Partners, existing investors Tiger Global and Better Capital.

In total, the company has raised more than $100 million in the past year. The investment will allow M2P to further build its technology and team, while accelerating its plans to expand internationally, the company said.

M2P Fintech, an API (application programming interface) infrastructure company that enables businesses to embed financial products in their customer journeys, boasts of over 500 fintech companies and banks in its clientele. In the past year, M2P has seen an increased adoption of its Buy Now, Pay Later (BNPL) and programmable credit card stack which allows BNPL companies to gain access to Visa credentials, thereby helping them go to market rapidly. M2P Fintech operates in over 20 markets across Asia and North Africa.

Madhusudanan R, Co-Founder and CEO of M2P Fintech, said, “We see an unprecedented opportunity to meet this need by bringing our leading platform to other fintech markets across Europe, Africa and Asia, while doubling down on key and emerging fintech markets such as the Philippines, Indonesia and Egypt.

“We are very glad to get the backing of Insight Partners and look forward to leveraging their deep understanding of working with fintech entrepreneurs across the globe as we look to expand into new markets. MUFG with assets across Asia will be a key partner in the next phase of our growth,” he added.