M2P Fintech
“Can M2P be the API layer that lets any company in India, MENA, and Africa become a fintech?”
Founded2014
HQChennai, Tamil Nadu, India
FoundersMadhusudanan R
Total raised$100M+ (cumulative through Series D first close)
Latest roundSeries D, 2024
Valuation₹6,550 Cr (~$780M, 2024)
IndustryInfrastructure / BaaS
The story
Founded in 2014 as YAP, M2P pivoted to become a full-stack fintech infrastructure platform offering APIs across banking, lending, and payments. The company has grown into Asia's largest banking infrastructure provider, acquiring Finflux (lending) and Syntizen (KYC) to broaden its stack. Series D in 2024 funded expansion into Africa beyond its India base.
Product timeline
2014
Founded as YAP, focused on fintech API infrastructure in India· pivot
2022
Raised $56M Series C1 led by Insight Partners and MUFG· funding
2024
Raised ₹850 Cr Series D led by Helios Investment Partners; expanded into Africa· funding
2024
Positioned as Asia's largest banking infrastructure company powering banks and fintechs· banking
The stack
6 layers disclosed in M2P Fintech’s embedded-finance stack
Payments / PSP
M2P Merchant Acquiring (self-operated)M2P UPI (self-operated)M2P Prepaid Cards (self-operated)M2P Cross-Border Payments (self-operated)M2P Fleet Drive (self-operated)M2P ACS - 3DS 2.x Access Control Server (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: none
16 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.