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News In Brief Startups

Mintifi raises $40 Million in Series C round

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Mintifi raises $40 Million in Series C round
09 Feb 2022
5 min read

News Synopsis

The B2B focused buy now pay later platform, Mintify has raised $40 million in its Series C funding round led by Norwest Ventures Partners and Elevation Capital. 

The company is planning to use the raised funds to build its tech infrastructure, expand product offerings, along with BNPL solutions for SMEs. It also aims at scaling up its co-leading platform with plug and play solutions and deepening its engagement across the supply chain network by building an end-to-end fulfilment platform across industries.

Mintifi was founded by Anup Agarwal, Ankit Mehta and Sanjoy Shome in 2017. It serves more than 100 brands at present including Tata Motors, Bridgestone Tyres, Berger Paints, Polycab, Nivea and Jockey

It helps the companies to unlock their supply chain by digitising payments, invoicing and purchasing financing solutions for distributors and retailers.

It partners with banks and financial institutions on its co-leading platform, Anup Agarwal, co-founder and chief executive said. The company raised equity and debt to the tune of $60 million. This funding will allow the company to expand its capital base to more than $500 million and will help to accelerate its business.