Helios Investment Partners (“Helios”), a leading Africa-focused private equity firm, has led a $102 million Series D funding round of primary and secondary share capital in India’s M2P Fintech (“M2P”).
According to Helios, M2P is a fast-growing full-stack Banking as a Service (BaaS) and Infrastructure API provider that caters to the banking, fintech, and non-financial services sectors. The fintech will leverage Helios’ investment and operational expertise in its ongoing expansion plans across Africa.
M2P was founded in 2014 and headquartered in Chennai, India. It provides a cloud-native full-stack platform that offers next-generation financial services technology to:
- 200+ banks
- 300+ lenders, and
- 800+ fintech engagements
serving over 50+ million end users.
M2P counts Africa as one of its fastest-growing international markets, fuelled by rapid fintech innovation, financial inclusion, and banking digitization.
The African Banking as a Service (BaaS) and infrastructure API market remains under-developed, with a limited availability of modern providers capable of delivering solutions to both large financial institutions and fintechs, says Helios.
Moreover, most providers are currently single-region or single-product focused, offering M2P a significant opportunity for market penetration based on the breadth of its product offering and its growing geographic footprint.
M2P’s partnership with Helios will allow it to tap into Helios’ extensive operational expertise, guidance in navigating regulatory environments, and valuable network of key contacts across Africa as potential prospects. Additionally, M2P will benefit from Helios’ in-depth fintech knowledge throughout the continent.
“As the world’s largest Banking-as-a-Service provider, this capital infusion will not only reinforce our leadership in India – where we’ve established a robust, comprehensive ecosystem – but also accelerate our ambitious global expansion efforts,” said Madhusudanan R, Co-Founder and CEO of M2P Fintech.
“Africa, with its rapidly growing digital economy and pressing need for financial inclusion, presents immense potential for fintech innovation. We’re thrilled to partner with Helios, whose deep understanding of the African market, coupled with our powerful platform capabilities, will position us well to deliver on our mission of fostering financial inclusion and innovation.”
Since its founding 20 years ago, Helios has supported several high-growth financial services and fintech companies across Africa during a remarkable period of development and innovation, including:
- Fawry (Egypt)
- Interswitch (Nigeria)
- Tpay (Algeria, Egypt, Morocco, Tunisia)
- Thunes (Pan-African)
Besides fintech, the firm has investments in core economic sectors in companies whose operations typically span multiple countries. These companies, listed with their pre-dominant African countries of operations, include:
- Telkom Kenya (Kenya)
- Vivo Energy (Kenya)
- Solevo (Mali)
- Gbs Foods Africa (North Africa, West Africa)
- Link Commerce formerly Mall For Africa (Pan African)
- T2s Group (Morocco)
- Helios Towers (South Africa)
- Impact Oil and Gas (South Africa)
- Starsight (South Africa)
- Continental Outdoor Media (South Africa)
- Bayport Financial Services (South Africa)
Helios’ investment in M2P reinforces its commitment to leading the growth of Africa’s financial services and fintech sectors, aligning with its strategy to invest in high-growth, technology-driven businesses.
The firm has over $3 billion in assets under management and is led and managed by a pre-dominantly African team based in London, Lagos, Nairobi, and Paris.
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