M2P Fintech’s road to rediscovery has hit a bump. The partnership with Unity was one such setback. Unity has formally exited the company. Unity was by far the bigger customer. The setback hits M2P hard as one of the top fintech players in India, after raising capital from venture capital firms at improved valuations last year.
Lendingkart has undergone a major leadership churn since October 2024, set in motion by its key investor Fullerton Financial Holdings. The shake-up was intended to keep an eye on the cash-strapped fintech. There has been an exodus of senior executives, including Sandeep Somnani (Chief Officer) and Gautam Singhania (CFO). Co-founder Harshvardhan Lunia has also been kept out of the loop on major decisions, signaling Fullerton’s active takeover.
The firm, Opalina Technologies, was involved in the #MainBhiChowkidar campaign. Shivnath Thukral owned stake in this firm, and his father continues to do so. Shivnath Thukral, a public policy director, India, at WhatsApp Inc (owned by Facebook, now known as Meta) since March 2020, had once owned a stake in Opalina Technologies – a company that has provided software solutions for India’s prime minister Narendra Modi, the prime minister’s office, the Bharatiya Janata Party.
