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Chennai-based M2P Fintech has acquired Goals101, a data platform in the fintech space, in a cash-and-equity deal. Sources told businessline that the deal is worth ₹250 crore.
Established in 2014, M2P Fintech is a digital banking infrastructure company that has collaborated with 100+ banks, NBFCs, and 600+ fintech companies in India, the Middle East, North Africa, and South Asia.
Madhusudanan R, one of the co-founders of M2P Fintech, says, “In the traditional banking model, products are often standardised, but we’re moving towards a world where personalisation is key.”
Goals 101 enable banks to identify individuals based on their spending patterns and accumulated data. This allows the structuring and offering of products tailored to meet each customer’s unique requirements, adds Madhusudanan.
Goals 101, a seven-year-old company, says that it created a platform using advanced algorithms and analytics to offer insights into consumer transaction patterns and coordinate actionable strategies.
Data personalisation also raises questions about data privacy. How much of my data is shared with a company? Talking about the thin line between data personalisation and data privacy, Madhusudanan says, “We are a technology provider to the bank. We don’t directly engage with consumers or handle their data independently.”
Our services involve facilitating data exchange between banks or financial providers and their customers, he adds.
Moonlighting is what brings ideas
Moonlighting means having a side job apart from your primary employment. Companies have time and again criticised moonlighting, with many, including Wipro, firing its employees for it. Wipro Chairman Rishad Premji said it was “plain cheating.”
TCS also believes that companies have the right to take action against those engaged in moonlighting. However, Madhusudanan believes that “anybody who’s building on an idea is not going to stop because their companies won’t allow it.”
We started our company by moonlighting when we were working somewhere else, he adds. The company has a programme called “Moonlight with M2P’ !”
It “supports entrepreneurs building something epic on the side, freelancers making a little extra cash, and anyone hustling,” says the company statement.
Our programme accommodates various pursuits outside of the office, fostering a supportive environment for personal and professional growth, adds Madhusudanan.
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