M2P Fintech acquires Goals101 for ₹250 crore | Mint
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Business News/ Companies / Start-ups/  M2P Fintech acquires Goals101 for 250 crore
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M2P Fintech acquires Goals101 for ₹250 crore

M2P Fintech expects the acquisition to act as a key driver in enhancing its product offerings

Goals 101 has developed a platform that runs on advanced algorithms and analytics tools which provide insights into consumer transaction patterns and orchestrates actionables. (Image: Pixabay)Premium
Goals 101 has developed a platform that runs on advanced algorithms and analytics tools which provide insights into consumer transaction patterns and orchestrates actionables. (Image: Pixabay)

New Delhi: M2P Fintech, a digital banking infrastructure company, has acquired Goals101, a firm specializing in transaction behavioural intelligence, for approximately 250 crore. The move will enhance M2P Fintech's data analytics offerings to its clients.

Goals 101, a seven-year old company, has developed a platform that runs on advanced algorithms and analytics tools which provide insights into consumer transaction patterns and orchestrates actionables.

M2P Fintech will leverage Goals101's technology and integrate it into its existing suite of financial services. "This acquisition will act as a catalyst to bring in a high degree of personalisation in its digital banking products to its customers," M2P said in a statement.

Post-acquisition, the Goals101 team will continue developing new data capabilities and expanding the use of their big data platform. Their focus will be on adding more personalized aspects to financial products for customers globally.

Goals101 has established its presence in various regions, including India, the Middle East and North Africa (MENA), and South East Asia. The company collaborates with banks and payment networks across these geographies.

Backed by Nexus Venture Partners, Goals101 was co-founded by Visham Sikand, an alumnus of Harvard Business School with a history of successful ventures such as Plat5 and Indian Health Organization, alongside Milan Naik, Anshuman Pandey, Ishank Joshi, and Anupam Bhat. During the course of operations Shivam Maheshwari and Nikhil Raj were elevated as co-founders.

Madhusudanan R, the co-founder and CEO of M2P Fintech, emphasized the company's commitment to integrating advanced capabilities for a comprehensive next-generation banking experience. He sees Goals101's addition as a significant step towards realizing this vision.

Visham Sikand, set to assume a leadership role at M2P Fintech, expressed enthusiasm for the potential scalability of their products in the global market, leveraging their unique data-driven technology in collaboration with M2P.

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ABOUT THE AUTHOR
Arti Singh
Arti Singh has been a business journalist for 15 years. Over the last five years, she has closely tracked India's fintech space and written important deep-dive stores. As deputy editor, she covers the intersection of finance and tech at Mint.
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Published: 13 Dec 2023, 11:52 AM IST
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