UAE Business: M2P Fintech raises $35m from Tiger Global – Gulf Digital News

UAE Business: M2P Fintech raises $35m from Tiger Global – Gulf Digital News

M2P Fintech, Asia's largest API (application programming interface) infrastructure company, has secured $35 million in a Series C financing. Tiger Global Management led the round with existing investors BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital and the DMI Group via its investment vehicle Sparkle Fund participating in the round.

 

M2P intends to use the fresh funds to enhance its API infrastructure capabilities and expand its reach beyond Asia. M2P’s platform powers some of the leading banks, fintechs and consumer internet companies across Asia becoming the leading fintech enabler in the region.

 

M2P achieved 400% Y-O-Y revenue growth and is processing more than $10 billion in annualised payments volume across millions of users through 500+ discerning fintech partnerships. M2P has a market presence in India, Nepal, the UAE, Australia, New Zealand, the Philippines, Bahrain and Egypt. The company plans to expand its footprint to Indonesia, Bangladesh, Vietnam, and across the Mena region.

 

Madhusudanan R, Co-founder and CEO M2P Fintech, said: "The founding vision of M2P Fintech is to enable every company to become a fintech. Our immediate focus is to double down on growth in India and the expansion of our team in the UAE, where we have committed to invest