M2P Fintech Raises $10M Series B for Payments Infrastructure APIs
On March 16, 2021, M2P Fintech, formerly known as YAP, announced a $10 million Series B round co-led by Flourish Ventures and Omidyar Network India, with participation from BEENEXT, 8i Ventures, DMI Group, and Better Capital. The company provides API-based payments infrastructure that enables businesses to embed financial services into their products. Over 300 businesses, including major platforms like Ola, Cred, Razorpay, and Finin, use M2P's APIs for payments and banking functionality.
M2P has established partnerships with more than 20 banks to power these embedded finance capabilities. The platform operates across India, Nepal, UAE, Australia, New Zealand, and the Philippines. The Series B funding is intended to support further expansion and product development, solidifying M2P's position as a key BaaS provider in emerging markets.
- Demonstrates strong demand for BaaS middleware connecting banks and fintechs in India's rapidly growing digital payments ecosystem
- Multi-country expansion highlights the portability of API-based banking infrastructure models beyond a single domestic market