“Can M2P be the API layer that lets any company in India, MENA, and Africa become a fintech?”
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.
M2P Fintech discloses M2P Turing (in-house core banking) and M2P Core Banking (in-house) as its banking providers, according to the Embedded Finance Index 2026.
M2P Fintech does not disclose a bank charter of its own; its banking services are provided through M2P Turing (in-house core banking) and M2P Core Banking (in-house).
M2P Fintech processes payments through 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) and M2P Payments (self-operated). Disclosed money-movement rails: UPI.
M2P Fintech's cards are issued through M2P Card Issuance Stack (in-house) and M2P Card Issuance (in-house).
M2P Fintech's lending and capital products are provided by M2P Core Lending Suite / Finflux (in-house), Finflux by M2P (in-house) and M2P Credit Line on UPI (in-house).
M2P Fintech runs its ledger on M2P Turing Core Banking (in-house).
M2P Fintech uses M2P Cross-Border Payments (in-house) and M2P FX-DCC & Multi-Currency (in-house, part of Merchant Acquiring VAS) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 8 layers in M2P Fintech's stack: Payments / PSP (M2P Merchant Acquiring (self-operated), M2P UPI (self-operated), M2P Prepaid Cards (self-operated), M2P Cross-Border Payments (self-operated) and 3 others); Money movement (UPI); Banking / BaaS (M2P Turing (in-house core banking) and M2P Core Banking (in-house)); Card issuing (M2P Card Issuance Stack (in-house) and M2P Card Issuance (in-house)); Ledger (M2P Turing Core Banking (in-house)); Lending (M2P Core Lending Suite / Finflux (in-house), Finflux by M2P (in-house), M2P Credit Line on UPI (in-house), Core Lending Suite and 14 others); FX & payouts (M2P Cross-Border Payments (in-house) and M2P FX-DCC & Multi-Currency (in-house, part of Merchant Acquiring VAS)); Spend / AP (M2P Corporate Credit Card Platform (in-house)).
M2P Fintech was founded by Madhusudanan R and is founded in 2014, headquartered in Chennai, Tamil Nadu, India.
M2P Fintech has raised $100M+ (cumulative through Series D first close) in total (latest round: Series D, 2024; valuation: ₹6,550 Cr (~$780M, 2024)).
Get a read on where your own stack stands against M2P Fintech and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.