Amount Raised
$20 Million
Round Type
Funding Round
MumbaiFinancial ServicesFinanceFintechLendingDescription
Mintoak, a Software-as-a-Service (SaaS) platform focused on merchant services, has raised $20 million led by PayPal Ventures with participation from British International Investment and existing investors HDFC Bank and Pravega Ventures.HDFC Bank increased its stake to 7.75% from 5.20% through its investment, the Mumbai-based startup added.HDFC Bank had announced the funding in a stock exchange filing in December.Other institutional investors, including White Whale Partners, also invested in the round, it said. British International Investment is the development finance institution of the UK government, formerly called CDC Group.Mintoak’s business is spread across India, Africa and the Middle East.It partners with lenders such as HDFC Bank and State Bank of India to offer digital payments, lending, and engagement software solutions to merchant customers of the banks. Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 Stories“We will have a disproportionate focus outside India because in India we have the leading banks with us. Now, I think it's time we use what we built for India to accelerate it outside,” cofounder and chief executive Raman Khanduja told ET in an interaction.Cofounders Khanduja, Rama Tadeppalli and Sanjay Nazareth were in leadership roles in India and South-Asia at Visa, prior to starting up.The firm, founded in 2017, plans to deploy the latest capital to ramp up its technology stack and double down on its existing product portfolio
Who else raised in Financial Services and Finance around the same time
Companies in the same sectors as Mintoak that raised within 45 days of this round, from Fundz verified event records.
- Finverity raised $5.2M (Funding Round) on March 30, 2023.
- Polytrade raised $3.8M (Seed) on March 30, 2023.
- Polytrade raised $3.8M (Seed) on March 30, 2023.
- StellarFi raised $15M (Funding Round) on March 28, 2023.
- Clip Money raised an undisclosed amount (Convertible Note) on March 28, 2023.
- ID Finance raised $32M (Funding Round) on March 22, 2023.
Who to call at Mintoak, and when
A new round usually means Mintoak is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Mintoak raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Mintoak, from your own LinkedIn network
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Related People
Mintoak raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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