Chennai, Jul 6 (IANS): Financial API infrastructure company M2P Fintech on Wednesday said it has acquired Bengaluru-based Cloud lending platform Finflux for an undisclosed sum to boost its digital lending capabilities.
With over 60 clients in 15 countries, Finflux serves over 12 million borrowers.
With this acquisition, Chennai-headquartered M2P Fintech said it will accelerate the adoption of next-generation digitisation, automation of workflows and offer cutting-edge lending products.
"Our core services in BNPL (buy now pay later) and neocredit products will be fuelled by Finflux's platform," said Madhusudhanan R, Co-Founder, M2P Fintech.
The services of Finflux include loan origination, loan management, co-lending, BNPL, marketplace integration, app-based lending, optional data-based credit scoring and analytics.
"With this acquisition, we move closer to our mission of enabling 100 million borrowers. With M2P's network and resources, we will be able to better serve our existing customers," said Nayan Ambali, Founder and CEO, Finflux.
Founded in 2014, M2P Fintech is an omni-channel platform that operates in over 20 markets across the Asia Pacific, MENA and Oceania regions.
M2P said it works with over 30 banks and have clocked over 600 fintech engagements across industries.