Goals101 Is Acquired By M2P Fintech For Rs 250 Crore By CIOTechOutlook Team

Goals101 Is Acquired By M2P Fintech For Rs 250 Crore

CIOTechOutlook Team | Wednesday, 13 December 2023, 09:05 IST

M2P Fintech, a digital banking infrastructure startup, has paid about Rs 250 crore for Goals101, a firm focusing in transaction behavioral intelligence. The acquisition will improve M2P Fintech's data analytics capabilities 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, as per livemint

M2P Fintech will include Goals101's technology into its existing portfolio 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.

The Goals101 team will continue to create new data capabilities and increase the use of their big data platform following the acquisition. Their primary focus will be on enhancing the personalization of financial products for customers worldwide.

Goals101 has a presence in a number of countries, including India, the Middle East and North Africa (MENA), and South East Asia. Across these geographies, the organization works with banks and payment networks.

Goals101 was co-founded by Visham Sikand, an alumnus of Harvard Business School with a history of successful enterprises such as Plat5 and Indian Health Organization, along with Milan Naik, Anshuman Pandey, Ishank Joshi, and Anupam Bhat, and is backed by Nexus Venture Partners. During the course of the business, Shivam Maheshwari and Nikhil Raj were promoted to co-founders.

M2P Fintech co-founder and CEO Madhusudanan R stressed the company's commitment to incorporating sophisticated capabilities for a holistic next-generation banking experience. He sees the integration of Goals101 as a crucial step toward reaching this ambition.

Visham Sikand, who is poised to take over as CEO of M2P Fintech, expressed excitement about the potential scalability of their goods in the worldwide market, leveraging their unique data-driven technology developed in conjunction with M2P.