M2P Fintech raises $12M debt from Alteria Capital for AI expansion

What's the deal? M2P Fintech, an Indian banking infrastructure provider, has raised Rs 100 crore ($12 million) in debt from Alteria CapitalDealroom has a profile for this one. Try Dealroom →. The three-year facility is the company's second debt raise.

What's next? M2P will use most of the money to finance AI product development and computing capacity, including token consumption costs. CEO Madhusudanan RDealroom has a profile for this one. Try Dealroom → said a small portion will refinance higher-cost debt raised in 2023.

The company also plans to expand its lending, payments, and core banking software businesses.

Read more: The Economic Times

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