Our Story
We endeavor to embed fintech in customer journeys of every business. On this journey, we have faced struggles, triumphs, breakthroughs and everything in between.
- 2014Start-Up ChaiEverything good brews over tea, so did we. Madhu & Muthu set out to revolutionize the fintech ecosystem that had just reached India's shores.
- 2014The Trio is CompletePrabhu joined the group and M2P was founded.
- 2014M2P Solutions RegisteredM2P Solutions Pvt. Ltd. became official on Nov 14, 2014.
- 2015The Bootstrap Journey Begins: M2P started as Payment as a Service (PaaS)M2P was launched to leverage the network effect and build a future for mobile payments.
- 2015Partnered with DCB BankFirst prepaid card BIN sponsorship program with DCB bank.
- 2015Launched Digital Payments Product for Cashless Gold Loan DisbursementParterned with leading NBFCs like IIFL, Muthoot and India Infoline to launch digital payments model for cashless gold loan disbursement.
- 2015Launched Small-ticket Loans Disbursement using Digital PaymentsBecame the platform of choice for many leading NBFCs like Madura Micro Finance, Belstar, SKS Microfinance (now Bharat Financial Inclusion), Utkarsh Micro Finance and others in the country.
- 2015Launched Prepaid Card ProgramsPrepaid card programs went live with Visa, Mastercard and RuPay and started powering white label wallets for our partner banks.
- 2016-17Built our Exhaustive, In-house Tech CapabilitiesFocused on strengthening our in-house tech stack.
- 2017-18Diversified our Product OfferingsAdded more capabilities in our product stack to Unified Payments Interface (UPI), National Electronic Toll Collection (NETC), Near Field Communication (NFC), Host Card Emulation (HCE), and Bharat QR.
- 2018-19Launched White Label Travel CardIntroduced multi-currency wallets with 24 popular currencies to ease international travel needs.
- 2019-20Ventured into Credit Based Solutions with Credit Card Stack and Launched Remittance ProductM2P went global with an active presence in GCC, SEA, South Asia and Australasia region with our cross-border payments capabilities. Launched a new product- A customized credit card stack for consumer, corporate & SME.
- 2020Seed FundRaised $13,37,000 from Amrish Rau, Kunal Shah, and other angel investors.Published by
- 2020COVID-19 PandemicThe COVID outbreak saw many economies experience a surge in cashless payments.Published by
- 2020Series A FundraiseRaised $4.50 million from Beenext along with 8i Ventures Fund, DMI Group, Better Capital, and angel investors including Alok Mittal, Ashneer Grover, Amrish Rau, and Jitendra Gupta.Published by
- 2020Partnered with SBM Bank, IndiaStarted powering all products for SBM Bank including neobanking, credit cards, etc. and became the bank's switching partner when it launched remittance and cross-border payments product with Mastercard.Published by
- 2020Built Complete neobanking StackTook on an embedded finance avatar and partnered with India's first neobank as the technology partner.
- 2020Launched in MENA1. Launched in MENA region, with regional HQ at Abu Dhabi.
2. Doubled our workforce during the pandemic.Published by
- 2021Series B FundraiseContinued expansion to new geographies and raised Series B $10 million.Published by
- 2021Built Buy Now Pay Later Solution for New-age Consumers with Pay Later PlusLaunched Buy Now Pay Later for the new-age online shoppers with Pay Later Plus and its merchant plugins.
- 2021VISA-Ready Certified in MENAM2P gets visa-ready certification and expands its base in the MENA region, offering instant issuance, tokenization, credit cards, and other services to banks, fintechs, businesses in the region.
- Aug 2021M2P Fintech Acquires Credit Card Focused Fintech, WiziHyper-personalized credit card offerings, “card in a box”, democratized credit card buying experience.
- Aug 2021M2P Fintech Acquires Origa.ai. A Next-Gen Full-Service Technology PlatformIntuitive repayment analytics, full stack omnichannel collection capability, improved collections management operations.
- October 2021Series C FundingSecured $35 million in Series C funding, the round was led by Tiger Global Management and existing investors such as Beenext, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital and the DMI Group participated in the round.
- Jan 2022Series C1 FundingReceived $56 million in Series C1 funding from Insight Partners & MUFG Innovation Partners and existing investors - Tiger Global, Better Capital, Beenext, Flourish Venture, Omidyar Network India, 8i Ventures, and the DMI Group via its investment vehicle, Sparkle Fund.
- June 2022M2P Fintech Acquires Core Banking Platform Company, BSG ITSOFTEnhanced capabilities to roll out a full digital bank, fully integrated banking & payments stack, integrated CBS & payments stack, emerging use cases around blockchain.
- June 2022M2P Fintech Acquires Regtech & Digital Identity Provider, SyntizenFully integrated banking stack, future-ready KYC onboarding services, e-KYC/Video KYC solutions, Aadhaar-based identification.
- June 2022M2P Fintech Acquires Cloud Lending Platform, FinfluxEnhancing digital lending capabilities, next generation digitization, workflow automation, innovative lending products.
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