Fintech startup Snapmint raised $21 million in a mix of equity and debt

October 17, 2022

, By Editorial Team

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Fintech startup Snapmint raised $21 million in a mix of equity and debt where equity round was led by Prashasta Seth, CEO and CIO of Prudent Investment Managers with existing and new investors like Kae Capital, 9 Unicorns, Anicut Capital, and Negen Capital and the debt round was led by Northern Arc Capital, and several high-net-worth individuals (HNIs), who made investments through non-convertible debentures.

Snapmint’s mission is to democratise credit access. Customers can shop Snapmint’s platform in instalments for products such as electronics, fashion, and more. The BNPL (Buy Now Pay Later) platform intends to use the additional funds to expand its online and offline merchant network, which will power the purchases of 550 million Indian PAN card holders. As a non-banking financial company (NBFC), the startup claims to be in accordance with the Reserve Bank of India’s digital lending guidelines (RBI). According to an Inc42 report, digital lending in India is expected to grow to a $1.3 trillion market opportunity by 2030, up from $270 billion in 2022, at a CAGR of 22%.

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Fintech startup Snapmint raised $21 million in a mix of equity and debt

October 17, 2022

, By Editorial Team

Fintech startup Snapmint raised $21 million in a mix of equity and debt where equity round was led by Prashasta Seth, CEO and CIO of Prudent Investment Managers with existing and new investors like Kae Capital, 9 Unicorns, Anicut Capital, and Negen Capital and the debt round was led by Northern Arc Capital, and several high-net-worth individuals (HNIs), who made investments through non-convertible debentures.

Snapmint’s mission is to democratise credit access. Customers can shop Snapmint’s platform in instalments for products such as electronics, fashion, and more. The BNPL (Buy Now Pay Later) platform intends to use the additional funds to expand its online and offline merchant network, which will power the purchases of 550 million Indian PAN card holders. As a non-banking financial company (NBFC), the startup claims to be in accordance with the Reserve Bank of India’s digital lending guidelines (RBI). According to an Inc42 report, digital lending in India is expected to grow to a $1.3 trillion market opportunity by 2030, up from $270 billion in 2022, at a CAGR of 22%.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Supply chain financing startup Progcap raised $50 million in Series C from Beams Fintech Fund

Next News

South Korea-based pizza chain GOPIZZA raised $25 million in Series C led by GS Ventures and others

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

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