B2B digital lending startup Mintifi raised $110 million as part of a Series D led by Premji Invest

Share via:

B2B digital lending startup Mintifi raised $110 million as part of a Series D led by Premji Invest where existing investors Norwest Venture Partners, Elevation Capital and International Finance Corporation (IFC), among others also participated.

The startup will use the additional funding to broaden its product offering and establish a stronger presence in the field of supply chain financing. The investment will also be used to expand the dealer management system and the B2B payments vertical.

A portion of the funds will also be used to develop a full suite of end-to-end fulfilment products, which will improve engagement throughout the supply chain network. Additionally, Mintifi will be able to increase its capital base for credit purposes to more than $600 Mn thanks to the investment.

According to Mintifi, it has increased over 4X year over year (YoY), financing annualised purchases totaling more than $1 Billion. By the end of the fiscal year 2023–24 FY24, the startup anticipates the figure to reach $3 Bn.

It mainly competes with fintech startups like KredX and the B2B marketplace for building materials operated by OfBusiness, Oxyzo. The announcement comes as the Indian startup scene is experiencing a funding crunch. According to Inc42 data, only $693.47 million was raised by Indian startups in February, a decline of 81% from the same month last year (YoY).

About Mintifi

Mintifi is a B2B digital lending startup that provides customized lending solutions to small and medium-sized enterprises (SMEs) in India. The company offers a range of financial products and services, including working capital loans, invoice discounting, and supply chain financing, all of which are designed to meet the unique financing needs of SMEs.

Mintifi uses cutting-edge technology and data analytics to assess the creditworthiness of SMEs and offer them loans quickly and efficiently. The company’s online platform allows SMEs to apply for loans easily, track their application status, and manage their loan accounts. Mintifi’s innovative lending solutions have helped numerous SMEs in India overcome their financing challenges and grow their businesses.

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.

Popular

More Like this

B2B digital lending startup Mintifi raised $110 million as part of a Series D led by Premji Invest

B2B digital lending startup Mintifi raised $110 million as part of a Series D led by Premji Invest where existing investors Norwest Venture Partners, Elevation Capital and International Finance Corporation (IFC), among others also participated.

The startup will use the additional funding to broaden its product offering and establish a stronger presence in the field of supply chain financing. The investment will also be used to expand the dealer management system and the B2B payments vertical.

A portion of the funds will also be used to develop a full suite of end-to-end fulfilment products, which will improve engagement throughout the supply chain network. Additionally, Mintifi will be able to increase its capital base for credit purposes to more than $600 Mn thanks to the investment.

According to Mintifi, it has increased over 4X year over year (YoY), financing annualised purchases totaling more than $1 Billion. By the end of the fiscal year 2023–24 FY24, the startup anticipates the figure to reach $3 Bn.

It mainly competes with fintech startups like KredX and the B2B marketplace for building materials operated by OfBusiness, Oxyzo. The announcement comes as the Indian startup scene is experiencing a funding crunch. According to Inc42 data, only $693.47 million was raised by Indian startups in February, a decline of 81% from the same month last year (YoY).

About Mintifi

Mintifi is a B2B digital lending startup that provides customized lending solutions to small and medium-sized enterprises (SMEs) in India. The company offers a range of financial products and services, including working capital loans, invoice discounting, and supply chain financing, all of which are designed to meet the unique financing needs of SMEs.

Mintifi uses cutting-edge technology and data analytics to assess the creditworthiness of SMEs and offer them loans quickly and efficiently. The company’s online platform allows SMEs to apply for loans easily, track their application status, and manage their loan accounts. Mintifi’s innovative lending solutions have helped numerous SMEs in India overcome their financing challenges and grow their businesses.

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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

‘Send now, pay later’ startup Pomelo lands $35M Series...

Pomelo, a startup that combines international money transfer...

Meta starts licensing headset OS in battle with Apple

On the theme of opening up, Meta is...

What to expect from the new iPad Air

In addition to a new iPad Pro lineup,...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!