financial infrastructure provider m2p fintech is acquiring the Bengaluru-based cloud-lending platform finflux for an undisclosed amount, the company said today.

According to M2P, the acquisition will allow it to improve workflow automation and introduce support for lending products.

“The consumption credit story in India is at a critical point and we are confident that with macro factors, there is going to be immense potential for a highly customizable, cloud-ready platform that can scale up. With Finflux, we Can cater to the growing and rapidly growing digital lending ecosystem across banks, NBFCs and fintechs,” said Madhusudan R, Cofounder, M2P Fintech.

Founded in 2010, Finflux’s cloud-lending platform offerings include loan origination, loan management, co-lending, buy-now-pay-later (BNPL) products, market integration, app-based lending and optional data-based credit scoring and analytics. Are included. ,

It works with over 60 global clients, which include lending fintech firms, non-banking financial institutions (NBFCs), microfinance institutions, savings and loan co-operatives, banks and other financial institutions. Furthermore, the platform caters to over 12 million borrowers.

before
In January, M2P fintech led by New York-based global private equity firm Insight Partners raised $56 million, valuing the startup at $600 million. The round also saw the participation of MUFG Innovation Partners, Tiger Global and better capital.

In October 2021,
The company has also raised $35 million from Tiger Global., To date, the company has raised over $107 million in equity funding.

“With this acquisition, we are closer to our mission of enabling 100 million borrowers. With the network and resources of M2P, we will be able to serve our existing customers more efficiently, reaching a wider market, geographies and build new technology product experience in a blitz,” said Nayan Ambali, Founder and CEO, Finflux.

Founded in 2014 by Madhusudan R, Muthukumar R and Prabhu Rangarajan, M2P is an Application Programming Interface (API) infrastructure company that helps businesses embed financial services.

Currently, the platform claims to have clients in 20 markets and works with over 30 banks, and has seen over 600 fintech engagements across industries.

Existing investors in M2P include beanextFlourish Ventures, Omidyar Network India, 8i Ventures and DMI Group through their investment vehicle Sparkle Fund.

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