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M2P Fintech raises over $100 Mn in primary and secondary funding

EntrackrEntrackr · 1y ago
M2P Fintech raises over $100 Mn in primary and secondary funding
Medial

Application programming interface (API) infrastructure platform M2P Fintech has raised Rs 850 crore (around $101.8 million) through a primary and secondary financing round led by Helios Investment Partners. The Series D round also saw participation from marquee banks across Asia, with existing investor Flourish Ventures doubling down on their investment in the company. Of the total amount, $70 million came from primary investment, while the remaining was raised through secondary transactions. According to the company, this round has brought its valuation to Rs 6,550 crore (approximately $790 million). Entrackr was first to report about the M2P Fintech’s new fundraise, providing a detailed break-up and crucial insights including valuation. The funds will be utilized to cement M2P’s market leadership in India, besides helping grow its international franchise, particularly in Africa, the company said in a press release. Africa now stands as M2P’s next major growth frontier, presenting vast potential due to the continent’s rapidly evolving financial ecosystem. M2P Fintech provides API infrastructure that enables businesses to offer their own branded financial services through partnerships with fintech companies, ensuring regulatory compliance. Operating in over 30 markets, including Asia Pacific, MENA, and Oceania regions, M2P Fintech powers more than 200 banks and 300 lenders. The firm aims to deliver “Bank in a Box” solutions alongside digital payments, credit card issuance, and other financial services customized to meet the unique demands of local markets, the release added. While M2P has yet to disclose FY24 results, its operating revenue surged 2.26X to Rs 440.7 crore up from Rs 194.74 crore in FY22. However, its losses also increased 3.35X, amounting to Rs 134.26 crore in FY23. Helios Investment Partners, the lead investor, is a private investment firm focused on Africa, managing over $3 billion in assets. The firm is led and managed by an African team with offices in London, Lagos, and other locations. The investment firm has invested in M2P through an investment vehicle called Taj Investment Holdings.

Stable Money to raise $20 Mn led by Fundamentum with 2.3X valuation jump

EntrackrEntrackr · 8m ago
Stable Money to raise $20 Mn led by Fundamentum with 2.3X valuation jump
Medial

Wealthtech startup Stable Money is raising Rs 173 crore (around $20 million) in a funding round led by The Fundamentum Partnership Fund, with participation from existing investors Matrix Partners, RTP Global, and Lightspeed India. The board at Stable Money has issued 10 equity and 51,914 Series B preference shares at an issue price of Rs 33,345 each to raise Rs 173 crore or $20 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. The Fundamentum Partnership Fund will lead the round with an investment of Rs 86.5 crore ($10 million). Existing investors will also join in, including RTP Global with Rs 33.78 crore, Matrix Partners with Rs 45.42 crore, Lightspeed India with Rs 4.32 crore, and Naman Finance with Rs 3 crore. Stable Money plans to use the funds for capital expenditure, marketing, and general corporate purposes. Entrackr estimates that the company’s valuation will reach approximately $130 million following the allotment. This is a 2.3X valuation surge when compared to its last $15 million Series A round. After the allotment of this round, The Fundamentum Partnership Fund will hold a 7.94% stake in Stable Money. Matrix will hold 18.97%, RTP Global 13.45%, Lightspeed India 15.20%, and Naman Finance 0.28%. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money operates in the wealthtech space, focusing on simplifying fixed-income investing for retail customers. It provides a digital platform where users can compare, invest in, and manage fixed-income products, particularly bank fixed deposits (FDs), offered by multiple banks. The company has not yet filed its financial results for FY25. For the fiscal year ended March 2024, it remained in the pre-revenue stage, reporting an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

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