Mintifi is a fintech company based in India that offers digital lending solutions to small and medium sized enterprises. Mintifi was founded in 2017 by Anup Agarwal, Ankit Mehta, and Sanjoy Shome and is headquartered in Mumbai. Where, They offer financing options to retailers and distributors to provide offering including payment solution, electronic invoicing and payments digitisation. Minifi works with over 100 top leading companies like Tata motors, Jockey, Parle Agro, Bridgestone, Prince pipes and Varun Beverages,TVS Motorcycle.
The Investment is led by Premji Invest and participation from existing investors including partners Norwest Venture Partners ,Elevation Capital and Avendus Capital. For this deal Avendus Capital acts as an exclusive financial and offer advisor. With this fundraise they will try to boost its technology platforms and provide software products to corporate partners. In 2022, a Series C funding round raised $40 million.
While, the remaining 10% was raised through secondary shares. With this fund, they also want to position them in multiple sectors and also wants to strengthen its Business -to- business (B2B) that gives B2B payments to the dealer management system.
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Mintifi Raises fund will use to
- They want to Expand their product offering.
- Scaleup the co- lending platforms through its play and plug solutions.(a scalable engine helps you to solve business problems with minimal investment and ensures high return on investment)
- Want to strengthen the supply chain management.
Anoop Agarwal, Co-founder and CEO of Mintify said in a press note.
Our Special plug-and-play approach allows us to scale fast by tapping into a superb receivable pool of blue-chip corporates while maintaining profitability. This round of funding will allow us to step up our growth. As well as enlarge our team, and deliver even priceless importance to our customers,”