B2B BNPL platform Mintifi raises USD 40 mln in Series C

Tuesday 8 February 2022 12:26 CET | News

India-based B2B BNPL platform Mintifi has raised USD 40 million in its Series C round of funding led by Norwest Venture Partners and Elevation Capital. 

The company will use the funds to continue to build on its tech infrastructure and expand its product offerings. 

Mintifi works with over 100 brands that include Tata Motors, Bridgestone Tyres, and Berger Paints for helping their supply chain by digitizing payments, invoicing, and purchase financing solutions for distributors and retailers. Mintifi’s payment and financing stack provides brands, distributors and retailers improved payment processing time and increased inventory turns, said the company.

Prior to this round, Mintifi had raised equity and debt to the tune of USD 60 million. This round of funding will enable Mintifi to expand its capital base to over USD 500 million. In addition to Norwest and Elevation, Mintifi counts International Finance Corporation (IFC) (member of the World Bank) and Lok Capital as shareholders.

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Keywords: funding, BNPL, B2B payments, marketplace, supply chain finance
Categories: Banking & Fintech
Countries: India
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