M2P Fintech buys cloud lending platform

CHENNAI: M2P Fintech, on Wednesday announced the acquisition of Finflux, a Bengaluru-based cloud lending platform that caters to a wide array of customers.

This unification will enable M2P Fintech to accelerate the adoption of next-generation digitisation, workflow automation and roll out of cutting-edge lending products that are secure, scalable and cloud ready.

With over 60 global customers from across 15 countries, Finflux serves over 12 mn borrowers.

Madhusudanan R, Co-Founder of M2P Fintech, said, “The consumption credit story in India is at a tipping point and we believe with the macro factors playing out, there is going to be immense potential for highly customisable, cloud ready platforms that can scale infinitely. Our offerings around BNPL and neo credit products gets a major thrust with the FinFlux’s platform.”