M2P Fintech, a banking infrastructure company, has raised ₹850 crore through primary and secondary share capital in its Series D financing round. The round was led by Helios Investment Partners, propelling the company’s valuation to over ₹6,550 crore. Existing investors including Flourish Ventures also participated in the funding round.
The capital raised in the latest funding round would be utilised to strengthen its operations in India and also help the firm grow its international footprint, particularly in Africa.
In addition to its current banking, payments, and lending offerings, M2P Fintech is also exploring new opportunities in data-driven services.
The company has been profitable for several quarters, closing FY24 with a revenue run rate of $70 billion.
“We are 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,” said Madhusudanan R, Co-Founder & CEO of M2P Fintech.
“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,” he added.
“We’ve done really well in the Middle East market, going as far as Egypt. These markets share similar demographics and ecosystem dynamics with India, especially in terms of internet commerce. We are essentially replicating our Indian success in these regions,” he said.
“In the recently closed fiscal year, we closed at about 40% from international markets while India continues to be 60% of the revenues that we generate,” Madhusudanan 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,” said Elias Yazbeck, Managing Director, Financial Services and Fintech, Helios Investment Partners.
