M2P Fintech, a software services provider for banks, is in the process of closing a new funding round of around $80 million in a mix of primary and secondary deals.
Africa-focused investment firm Helios Investment Partners is leading the round along with participation of Bank Muscat, said two people in the know.
According to filings made with the Registrar of Companies, accessed through Tofler, Helios will invest around $50 million in the company, picking up a stake of almost 6.5%.
Some of the existing investors of M2P are also participating in the round while Beenext, one of the early investors of the Chennai-based startup, is looking to sell part of its stake, one of the people said.
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