Indian fintech M2P takes over cloud lending company Finflux

0

Indian fintech M2P, which provides API infrastructure for businesses to integrate financial products, has acquired cloud lending platform Finflux.

M2P Fintech acquires Finflux

Financial details are not disclosed, but according to a India time report, it would be a “cash and stock deal of $15-20 million.”

Founded in 2010 and headquartered in Bangalore, Finflux’s cloud solution offers services such as loan origination, loan management, financial accounting, market integration, app-based loans, credit scoring alternative based on data, financial dashboards, reports and analysis.

Its clients include non-banking financial institutions, microfinance companies, banks and fintechs, among others.

With this acquisition, M2P Fintech aims to deploy “secure, scalable and cloud-ready” lending products to help companies accelerate their digital transformation and workflow automation plans.

“The digital lending space is at an inflection point and we believe the combined entity can serve millions of customers and drive inclusive innovation,” says Madhusudanan R, co-founder of M2P Fintech.

Founded in 2014, M2P Fintech provides an API infrastructure that enables banks, NBFCs and online businesses to launch payment, banking and lending solutions. It raised $56 million in a Series C1 funding round in January this year.

Share.

About Author

Comments are closed.