Banking API provider M2P Fintech picks up $35m Series C

India-based M2P Fintech has secured $35m from a Series C funding round led by US investment firm Tiger Global.

The round also saw participation from Beenext Pte, Flourish Ventures, 8i Ventures, Better Capital, Sparkle Fund and Omidyar Network India. Following the round, M2P is now valued at $335m.

Founded in 2015, M2P Fintech has developed an API platform that supports lenders, FinTechs and internet firms across Asia and the Middle East. The company claims it was born out of the need to build highly scalable, secure yet nimble technology stack at the intersection of mobility, commerce and payments, and said its mission is to help every company become a FinTech.

The firm stated it currently works with over 500 FinTechs and has partnered with over 30 banks in different countries to provide API capabilities for banking and payment products.

According to M2P, it intends to use the newly raised capital to improve its API infrastructure capacity, deepening its footprint in India and Dubai as well as expanding into markets beyond those it already serves. It has noted it plans to expand into regions such as Vietnam, Bangladesh and Indonesia.

M2P CEO Madhusudanan R. said, “Our immediate focus is to double down on growth in India and the expansion of our team in Dubai, where we have committed to invest more than AED 100 million over the next 18-24 months.”

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