M2P Fintech Acquires Goals101 for $30mn

M2P Fintech Acquires Goals101 for $30mn

M2P, a Chennai-based business-to-business (B2B) fintech startup, bought big data analytics and intelligence platform Goals101 in a cash-and-equity deal. Although M2P has not revealed the exact acquisition amount, according to the source, the deal is valued at around INR 250 Cr (around $30 Mn).

With this deal, M2P will combine Goals101’s technology into its current portfolio of financial services. Goals101 was established in 2016 by Milan Naik, Visham Sikand, Anshuman Pandey, Ishank Joshi and Anupam Bhat. It incorporates artificial intelligence (AI)- powered proprietary technology to allow financial institutions to collect insights into their data that can be used intelligently for more business growth. With their marquee investors, the company also counts Nexus Venture Partners, Sprout Venture Partners and Dentsu. 

As per the Co-founder and Chief Executive Madhusudanan R. of M2P “ The global banking technology space is undertaking a plate motion with the help of data and AI in the most notable areas such as customer service, product and portfolio management, risk and compliance. Data intelligence will likely make the “new oil” give rise to new actionable insights”.  

He also said that M2P is going to bring together capabilities that will bring a holistic next-generation banking experience for its customers. 

M2P was founded in 2014 by Madhusudanan R, Muthukumar A(M2P) and Prabhu Rangarajan. It provides technology to empower banks, lenders, fintechs and other financial services players digitally. The company also claims to be operational in 20 markets across the Asia Pacific, MENA, and Oceania regions. 

Thoughts of YFS on M2P’s Buy of Goals101 

The development will help bolster M2P Fintech’s position in the financial services space by allowing it to utilise the AI-powered technology of Goals101. It will help the fintech firm make further inroads by gaining actionable data insights.