M2P Fintech acquired Finflux to expand its digital lending capabilities
- ByStartupStory | July 7, 2022
M2P Fintech, a provider of financial infrastructure, has announced the acquisition of Bengaluru-based cloud-lending platform Finflux for an unannounced price. As per M2P, the purchase will help it to increase workflow automation and enhance lending product support.
“We can cater to the blossoming and rapidly developing digital lending ecosystem spanning across banks, NBFCs, and fintech using Finflux,” stated Madhusudanan R, cofounder of M2P Fintech.
Finflux’s cloud-lending platform solutions include loan initiation, co-lending, buy-now-pay-later (BNPL) services, marketplace integration, app-based borrowing, and alternate data-based credit scoring and analytics, which it launched in 2010. Tiger Global also gave $35 million to the firm in October 2021. The firm has raised about $107 mn in equity capital to date.
Founded in 2014 by Madhusudanan R, Muthukumar R, and Prabhu Rangarajan, M2P is an application programming interface (API) infrastructure company that helps businesses to embed financial services.
Currently, the company claims to have users in 20 regions, interacts with over 30 banks and has approximately 600 fintech engagements spanning across sectors. Beenext, Flourish Ventures, Omidyar Network India, 8i Ventures, and the DMI Group through its investment vehicle Sparkle Fund are among M2P’s existing investors.
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