Mintifi's revenue was primarily driven by a 2x growth in interest income from loans, which contributed 80 percent of the total revenue, amounting to Rs 308 crore. The firm recently closed a $180 million Series E funding round co-led by Teachers’ Venture Growth (TVG) and Dutch technology investor Prosus
Moneycontrol was the first to report on Mintifi's funding talks, highlighting early interest from prominent investors such as Ontario Teachers’ and other private equity majors.
Moneycontrol was first to report about at least 20 investors chasing Mintifi to participate in its $100 million round.
The deal hinges on the valuation the supply-chain financing platform is offered. The talks come at a time when large-ticket deals, $100 million and above, are making a comeback in the Indian startup scene
Mintifi’s fundraise comes at a time when the Reserve Bank of India (RBI) and the Ministry of electronics and information technology (MeITY) have cracked down on digital lending applications due to concerns over “national security.”
Mintifi’s deliberations are still ongoing and fairly at an early-stage, with the company being involved with at least four investors. The final funding amount and the valuation can go a notch higher as well.
The B2B startup will use the funds to strengthen infrastructure, expand offerings, including BNPL solutions for small and medium enterprises, and scale co-lending platform