Bengaluru: Mintifi, which provides BNPL (buy now, pay later) solutions for SMEs, has raised $40 million in a funding round led by Norwest Venture Partners and Elevation Capital. The company will use the fresh funds to continue to build on its tech infrastructure, expand its product offerings, and scale the co-lending platform through its plug and play solution.
Founded in 2017 by Anup Agarwal, Ankit Mehta and Sanjoy Shome, Mintifi offers payments, invoicing and financing solutions to brands, distributors, and retailers. Mintifi has grown four times year-on-year with annualised purchases financed touching $300 million. It works with 100 brands across India, including Tata Motors, Bridgestone Tyres, Berger Paints, Nivea and Jockey, for their supply chain partners.
Agarwal, who is CEO, said the entire B2B ecosystem is at the cusp of a massive transformation across credit, payments and fulfilments. He said brands are using their platform to drive higher efficiency and faster growth in their supply chain network.
Founded in 2017 by Anup Agarwal, Ankit Mehta and Sanjoy Shome, Mintifi offers payments, invoicing and financing solutions to brands, distributors, and retailers. Mintifi has grown four times year-on-year with annualised purchases financed touching $300 million. It works with 100 brands across India, including Tata Motors, Bridgestone Tyres, Berger Paints, Nivea and Jockey, for their supply chain partners.
Agarwal, who is CEO, said the entire B2B ecosystem is at the cusp of a massive transformation across credit, payments and fulfilments. He said brands are using their platform to drive higher efficiency and faster growth in their supply chain network.
