Fintech startup M2P Fintch said on Wednesday has acquired transaction behavioural intelligence platform Goals101 for $30 million (Rs 250 crore), marking its first acquisition in more than a year.
The acquisition will help M2P Fintech to use Goals101's technology and integrate it into its existing suite of financial services and expand its capabilities to offer personalised solutions, a company statement said.
Founded by Visham Sikand, Milan Naik, Anshuman Pandey, Ishank Joshi and Anupam Bhat in 2016, Goals101 has been working with payment networks and banks across India, Middle East and North Africa (MENA) and Southeast Asia.
Founded in the year 2014 and backed by Tiger Global, Beenext, 8i Ventures and Omidyar Network, M2P Fintech provides application programme interface (API) solutions to banks and financial technology companies. This API enables the development of products around bank accounts and term deposits, in addition to a range of digital payment modes including debt, credit, prepaid, QR, UPI and toll payments.
It operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions. It claims to work with over 300 banks, 100 non-banking financial companies and around 800 fintech firms.
In June 2022, M2P acquired identity verification service provider Syntizen, in what was its third acquisition of 2022. VCCircle had reported that the deal was valued at $10-12 million.
Since 2021, M2P Fintech has acquired four startups including Wizi, Origa.ai, BSG and Finflux.
Bengaluru-based fintech startup Anq, said on Wednesday that it has acquired healthcare-focussed lending platform Kiwimoney for an undisclosed amount.
This acquisition is aimed to strengthen Anq’s fintech capabilities along with diversifying its operations into lending-related businesses.
Kiwimoney was founded by Shrikant Bhalerao in 2023. It is a fintech startup that offers healthcare loans for all minimally invasive elective surgeries of various categories such as proctology, laparoscopy, urology and dental, among others. The lending platform also has a strategic partnership with Ahmedabad-based Western Fintrade.
“This strategic acquisition would help us scale Anq further in India and deliver value to our customers,” said Ashish Khandelwal, founder, Anq
Anq was founded by Ashish Khandelwal and is backed by notable angel investors like Kunal Shah from Cred, Ashish Sharma from Innoven Capital, Madhusudan from M2P among others.
The company offers prepaid cards that reward users with gold and digital assets for their everyday spending at merchants, including Swiggy, Zomato, Flipkart, Amazon, amongst others.