M2P Fintech invests $4M in LivQuik

• BySheetal Sidhu     |    September 14, 2021

Chennai based M2P Fintech invests $4M in LivQuik. M2P said in a statement that this strategic investment will allow M2P to build on its ability to serve fintech to go to market faster with new and innovative products.  Madhusudanan R, Co-founder – M2P Fintech, said, “At M2P, we are constantly looking for novel ways to enhance our services. While banks serve the requirements of large enterprises, consumer internet companies and established use cases, we realised that early stage fintech are not served adequately, partly due to high governance costs for banks to back companies in their infancy, coupled with uncertainty around business model or scalability. We believe LivQuik can serve this segment meaningfully and the partnership with Livquik will help realise our vision to enable every company to become a fintech.” 

Founded in 2012, LivQuik is a Future Group-backed payments technology company. It is a RBI-approved prepaid payment issuer (PPI) and Full-Fledged Money Changer (FFMC). It offers payment gateway and enterprise fintech software development services, and has been managing the Future Pay platform. LivQuik’s CEO Mohit Lalvani said that the pandemic has accelerated the consumers to shift towards digital payments. “This investment and partnership with M2P Fintech is a recognition for the innovative work we’ve done in the fintech space; we’re confident that it will enable us to expand our products and solutions significantly,” he added. Last year, Visa had onboarded LivQuik for its Fintech Fastrack Program in India, which enables  LivQuik to issue Visa Prepaid credentials, process Visa Direct transactions for foreign inward remittance and enable other fintechs to issue co-branded Visa Prepaid Cards.

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