- M2P Fintech has acquired data analytics platform Goals101 in an equity-plus-cash deal worth around ₹250 crore ($33.5m).
- This acquisition will enable M2P Fintech to harness the Goals101’s data and integrate it into their financial services. The acquired team will continue to work on developing new data capabilities.
Chennai-based financial infrastructure provider M2P Fintech has acquired big data analytics and intelligence platform Goals101. The deal, worth around ₹250 crore ($33.5m), empowers M2P Fintech to leverage Goals101’s technology and amalgamate it seamlessly into its existing financial servives suite.
By harmonising M2P’s fintech infrastructure with Goals101’s high-tech analytics, the firms aim to revolutionise the way financial transactions are understood and improved. This acquisition will serve as a catalyst for M2P to bring a heightened degree of individualisation to its digital banking products for its customers.
Following the acquisition, the Goals101 team will remain to work on rolling out new data capabilities and to leverage its big data platform to create further pathways of personalisation in financial products for customers.
Madhusudanan R, Co-founder and CEO of M2P Fintech, highlighted how the global banking technology space is seeing significant changes in how data and AI are deployed in key areas such as customer service, product and portfolio management, as well as risk and compliance.
Visham Sikand will assume a leadership role at M2P Fintech and expressed the team’s excitement to join an innovation-led culture and work on product scalability with M2P’s resources combined with Goals101’s data-led tech stack.
