Mintoak, a Mumbia India-based provider of a software-as-a-service (SaaS) platform focused on merchant services, raised $20M in Series A funding.
The round was led by PayPal Ventures with participation from British International Investment, HDFC Bank and Pravega Ventures.
The company intends to use the funds to ramp-up engineering and product talent and expand in international markets.
Led by CEO Raman Khanduja, Mintoak provides a SaaS platform that helps banks and merchant acquirers to connect with their small and medium enterprise (SME) customers and drive cross-sell of financial products. The technology platform powers omni-channel payments, real-time analytics for business owners, SME commerce enablement solutions and access to capital. Banks partner with the company to provide small businesses with solutions and tools to manage and grow their businesses.
The platform currently serves over 1.5 million merchants across leading banks in India (including HDFC Bank, SBI, and YES Bank) and international markets such as Africa and Middle East.
FinSMEs
26/02/2023