CHENNAI: API infrastructure company Fintech M2P acquired a Bengaluru-based cloud lending platform Finflow to energize M2P digital loans and neo-credit schemes. Financial details of the deal were not disclosed, but it is reported to be a cash and stock deal of approximately $15-20 million.
This is M2P Fintech’s fourth acquisition since its launch in 2014 and it expects the purchase to help accelerate the rollout of secure and scalable digital lending products. Finflux will continue to operate as an independent brand.
Finflow cloud lending platform offerings include loan origination, loan management, co-lending, Buy Now Pay Later (BNPL), market integration, app-based lending, data-driven alternative credit scoring and l ‘to analyse. It has more than 60 global clients, including fintech lenders, non-bank financial companies (NBFCs), microfinance institutions, banks and others.
“With Finflux and the formidable team led by Nayan (Nayan Ambali, founder of Finflux), we found a solution to address the growing and rapidly changing digital lending ecosystem in banks, NBFCs and fintech. Our key offerings around BNPL and neo-credit products are getting a major boost with FinFlux’s platform and we are embarking on a mission to digitize the lending ecosystem,” said Madhusudanan R, Co-Founder of M2P fintech.