M2P
M2P enables fintechs and platforms to embed banking products via APIs.
M2P Fintech is an API infrastructure platform that enables banks, fintechs, and digital platforms to embed financial products into their customer journeys. The company offers a 'bank-in-box' solution with core banking systems, loan management, payment processing, and compliance tools that connect to public infrastructure, incumbent banks, and NBFCs. Operating across 30+ markets in Asia Pacific, MENA, and Oceania, M2P powers 200+ banks, 300+ lenders, and 800+ fintech engagements serving 50+ million end users.
Problem solved
Businesses lack the infrastructure to quickly embed banking, lending, and payment products into their platforms without building complex connections to banks, payment networks, and compliance systems.
Target customer
Digital platforms, fintech companies, incumbent banks, NBFCs, and offline businesses seeking to offer embedded financial services to underbanked and unbanked populations.
Founders
M
Madhusudanan Rangarajan
Co-Founder & CEO
Founded two prior companies (Oynk and YAP); core expertise in fintech and digital financial services.
P
Prabhu Rangarajan
Co-Founder
Master's in Information Technology from Madras University; led transformation of 45 data centers into private cloud at enterprise company.
M
Muthukumar Ayyakkannu
Co-Founder & CTO
Research Fellow at Aeronautical Development Agency; senior technology leadership at Fujitsu, Satyam, PayPal, and Visa.
S
Siddharth Kukatlapalli
Co-Founder & CFO
Finance leadership in fintech and technology sectors.
Funding history
Seed
$1.34M
2015
Led by Angel investors
· Amrish Rau, Kunal Shah
Series A
$4.5M
2020
Led by Beenext
· 8i Ventures Fund, DMI Group, Better Capital, Alok Mittal, Ashneer Grover, Amrish Rau, Jitendra Gupta
Series B
$10M
2021
Led by Flourish Ventures and Omidyar Network India
· Unknown
Series C
$35M
October 2021
Led by Tiger Global Management
· Beenext, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital, DMI Group
Series C1
$56M
2022
Led by Insight Partners and MUFG Innovation Partners
· Tiger Global, Better Capital, Beenext, Flourish Venture, Omidyar Network India, 8i Ventures, DMI Group
Series D
$70M
September 2024
Led by Helios Investment Partners
· Existing institutional investors
Series D Follow-on
$3.52M
June 2025
Led by Unknown
· Unknown
Total raised:
$188M
Notable customers
200+ banks, 300+ lenders, 800+ fintech engagements serving 50+ million end users; specific named customers not disclosed
Integrations
United Payments Interface (UPI), incumbent banks, NBFCs, public payment infrastructure; specific named integrations not publicly detailed
Website
Competitors
Fiserv
Broader enterprise banking software provider; less focused on API-first embedded fintech solutions.
Temenos
Core banking platform for large institutions; less emphasis on fintech API infrastructure and embedded financial products.
Fintech API providers (e.g., Plaid, Rapyd)
More focused on specific use cases (payments, account connectivity); M2P offers integrated 'bank-in-box' solutions with broader product suite.
Why this matters: M2P has raised $188M across 11 rounds with a valuation of $790M, positioning it as one of India's most-funded fintech infrastructure companies. Its focus on API-driven embedded finance across Asia Pacific and MENA markets addresses significant demand from platforms seeking to offer financial services without building core banking infrastructure from scratch.
Best for: Digital platforms, fintechs, and traditional businesses that need to quickly offer embedded banking and lending products to customers without building complex backend infrastructure.
Use cases
Digital Marketplace Embedded Lending
E-commerce platforms embed point-of-sale lending using M2P's Finflux API, allowing customers to access instant loans at checkout without leaving the platform. This increases conversion rates and average order value while M2P handles underwriting, compliance, and loan servicing.
Fintech Company Core Infrastructure
A newly-launched mobile fintech uses M2P's Turing core banking system to onboard customers, manage accounts, and process transactions. Instead of building or licensing legacy core banking software, they launch in weeks with a modern, API-first architecture.
Traditional Bank Compliance & Reconciliation
A regional bank implements M2P's Recon360 to automate daily reconciliation across multiple data sources. The AI-powered system reduces manual exception handling from 40% of team time to under 5%, enabling faster financial close.
Alternatives
Fiserv Fintech API Platform
Larger enterprise vendor with broader legacy banking integration; better for traditional banks than agile fintechs.
Plaid
Focused on account connectivity and data aggregation; doesn't offer core banking or loan management like M2P.
Rapyd
Payment-focused fintech infrastructure; lacks M2P's comprehensive core banking and lending solutions.
FAQ
What does M2P Fintech do? +
M2P Fintech provides API infrastructure that enables businesses to embed financial products (banking, lending, payments) into their platforms. It acts as a 'bank-in-box,' connecting digital platforms to banks, payment networks, and regulatory infrastructure without requiring them to build these connections independently.
How much does M2P cost? +
Pricing is not publicly disclosed. M2P operates a B2B2C model with pricing likely based on transaction volume, products used, and integration complexity. Contact sales for custom pricing.
Who uses M2P Fintech? +
M2P serves digital platforms, fintech companies, incumbent banks, NBFCs, and offline businesses. Customers include 200+ banks, 300+ lenders, and 800+ fintech engagements across 30+ markets in Asia Pacific, MENA, and Oceania.
What are M2P's main products? +
Core products include Turing (core banking system), Finflux (loan management platform), and Recon360 (AI-powered reconciliation). M2P also provides APIs for customer onboarding, card issuance, payments, compliance, and fraud management.
How does M2P compare to Plaid? +
Plaid focuses on account connectivity and financial data aggregation. M2P offers a broader 'bank-in-box' platform including core banking, lending, payments, and compliance—positioning it as an infrastructure layer for building complete fintech products rather than just connecting to existing accounts.
Tags
fintech APIs
embedded finance
core banking
loan management
payment infrastructure
bank-in-box
B2B fintech