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
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
Card issuing
Ledger
Lending
M2P Core Lending Suite / Finflux (in-house)Core Lending SuiteLoan Origination System (Finflux)Loan Management System (Finflux)Microfinance Suite (Finflux)BNPL platformCredit Line on UPIDebt CollectionsSurrogate Credit CardsLAP (Loan Against Property)LAS (Loan Against Securities)
FX & payouts
Accounting gap: none