YAN will be investing in about 8-10 fintech startups annually across pre-seed, seed, and pre-series A rounds
8i Ventures Fund-II will have a portfolio of 15-20 companies that 'we will invest in over the next three years', founding partner Vikram Chachra has said
"If you are saying that India is going to be the next Fintech factory for the world, it is in our interest to take our culture as well with it," co-founder Madhusudanan Rangarajan told Moneycontrol.
In the next 12 months, the startup expects the core lending suite to contribute 20 percent to revenue
While the company did not disclose the amount of the acquisition, Moneycontrol learns that the deal was valued at around $10-12 million.
This is M2P Fintech's third round in less than a year and the largest till date. The company plans to invest in international expansion and acquisitions.
The Chennai-headquartered company is now valued at $335 million and intends to use these funds to grow its network to Indonesia, Bangladesh, Vietnam, and the Middle East and North Africa (MENA) region.