- Acquisition Details:
- M2P Fintech, based in Chennai, India, has acquired Goals101 for approximately $30 million (INR 250 crore).
- Integration of Goals101:
- Goals101’s platform, utilizing machine learning and AI for consumer transaction insights, will be integrated into M2P Fintech’s suite of financial services.
- M2P Fintech’s Current Offerings:
- M2P Fintech’s existing suite includes core banking, lending, BNPL functionalities, and various card programs designed for integration with banks, fintechs, and non-bank financial companies.
- Strategic Vision:
- The acquisition is seen as a catalyst for personalizing digital banking products, enhancing M2P Fintech’s capabilities through Goals101’s big data platform and team.
- Leadership Transition:
- Goals101 co-founder, Visham Sikand, will assume an unspecified leadership role at M2P Fintech after the deal’s closure.
- Industry Perspective:
- M2P Fintech sees the acquisition as a significant step in responding to the evolving landscape of global banking technology, emphasizing the transformative impact of data and AI in the sector.
India’s M2P Fintech acquires Goals101 to tap AI-led transaction behaviour intelligence
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