M2P Fintech, which provides API infrastructure solutions for banks mainly in Asia, has acquired Syntizen, a provider of identity validation services such as Aadhaar verification, various KYC, and identity services.
Syntizen provides eKYC services to clients such as Manappuram Finance, Muthoot Fincorp, Indiabulls Home Loans, Angel Broking, and others.
Besides offering e-KYC, Video KYC services, Syntizen’s Aadhaar verification platform is deployed by several State Governments for identity solutions to enable government schemes.
M2P Fintech offers tech connecting fintech companies, banks and merchants with credit and prepaid cards, along with a suite of neobanking solutions. The Chennai-based company competes with the likes of Setu, Signzy and Decentro in the API infrastructure business.
Since 2021, M2P Fintech has acquired four startups which includes the acquisition of Wizi, Origa.ai, BSG and Finflux. The firm had closed its Series C round at a $600 million valuation in January this year.
