Mintifi is an India-based fintech company that operates a supply chain financing platform. The company offers financing solutions for participants in supply chains. Mintifi has raised $110 million in a Series D funding round. The round was led by Premji Invest, the family office of Wipro chairman Azim Premji, according to a release. The announcement did not disclose operating metrics, use of proceeds, or further details on other investors. Mintifi operates a full-stack B2B buy-now-pay-later platform that digitises payments, invoicing and purchase financing for distributors and retailers of consumer brands. The company serves over 100 leading brands in India and partners with banks and financial institutions on a co-lending model. Mintifi says its stack improves payment processing time and inventory turns, helping drive revenue growth across supply chains. It recorded annualised purchases financed of $300 million, growing fourfold year-on-year, and is expected to cross $1 billion by 2023. With a focus on profitability, the startup plans to expand product offerings and deepen engagement across the supply chain through an end-to-end fulfilment platform. Mintifi is an online lending platform that provides financing solutions to micro, small and medium enterprises (MSMEs) that act as dealers or distributors for small and mid-sized corporates in India. Its key products include small short-term loans, overdraft facilities, working capital and bill discounting, and the platform enables financial service providers to on-lend to these segments. Customers operate primarily in travel, hospitality, education, services and supplies. The firm was founded in 2017 by Anup Agarwal and Ankit Mehta; Sanjoy Shome joined as co-founder last year. Last year the founders also floated a registered non-banking financial company, Mintifi Finserv Pvt. Ltd. With the proposed IFC investment, Mintifi aims to provide uncollateralised small-sized working capital credit and to improve its capacity for on-balance-sheet lending and fundraising. Operated by Mintifi Pvt. Ltd and founded by Anup Agarwal, Mintifi started last year as an online lending platform for SMBs. The company uses a data-driven process to assess customer creditworthiness and offers working-capital loans, bill discounting and expansion-capital loans. Typical loan sizes range from Rs 1 lakh to Rs 25 lakh. The startup has raised external capital, joining a wave of digital lending firms securing funding. Registrar documents show the recent financing was concluded a few months ago. The company declined to comment on the funding when approached.

Total raised

$160M

Funding rounds

4

Latest round

Series D

Latest activity

Mar 2023