The corporate was once valued at $335 million.
Chennai-based M2P Fintech, an API infrastructure corporate, has secured $35 million in a Collection C investment. Tiger International Control, which led the spherical, valued the corporate at $335 million.
The prevailing traders, BEENEXT, Flourish Ventures, Omidyar Community India, 8i Ventures, Higher Capital and the DMI Workforce, by the use of its funding car Sparkle Fund additionally participated within the spherical.
M2P intends to make use of the recent finances to beef up its API infrastructure features and amplify its achieve past Asia.
Recently, M2P has a marketplace presence in India, Nepal, the United Arab Emirates, Australia, New Zealand, the Philippines, Bahrain and Egypt. The corporate plans to amplify its footprint to Indonesia, Bangladesh, Vietnam, and around the Center East and North Africa (MENA) area.
“Our speedy center of attention is to double down on enlargement in India and the growth of our crew in Dubai, the place we’ve got dedicated to speculate greater than AED 100 million over the following 18-24 months,” mentioned Madhusudanan R., Co-founder and CEO, M2P Fintech.
Alex Cook dinner, Spouse, Tiger International Control, mentioned that the Indian monetary services and products ecosystem is present process a thrilling shift to virtual throughout banking, credit score, bills, and making an investment.
“The M2P platform is enabling this shift, and plenty of fintech firms have already selected to paintings with them,” he added.
Within the Collection A spherical in April 2020, the company had raised $4.5 million and some other $10 million in March 2021 within the Collection B investment.
The corporate was once based in November 2014 by way of Mr. Madhusudanan, Muthukumar A. and Prabhu R.
Since then, the API merchandise had been utilised by way of tech firms together with OLA, Swiggy, Bharat pe, Razorpay, Finin and over 200 companies.