Funding Alert
Fintech Startup Mintifi Set to Raise $60 Million in Funding for Supply Chain Financing
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ByStartupStory | February 18, 2023
Mintifi, a startup in the supply chain financing industry, is seeking to raise a minimum of $60 million at a pre-money valuation of $350 million, twice its current value, as per a report by Moneycontrol.
The company, supported by the International Finance Corporation, is planning to use the funds to expand its lending book to up to $1 billion. Mintifi has appointed Avendus Capital as its exclusive financial advisor for this fundraising endeavor.
Previously, Mintifi secured $50 million in funding from Elevation Capital and Norwest Venture Partners, valuing the company at $150-200 million.
The startup, founded by Anup Agarwal, Ankit Mehta, and Sanjoy Shome in 2017, offers electronic payment processing, invoice management, and financing solutions to distributors and retailers.
Mintifi’s suite of services comprises a “buy now pay later” option for small and medium-sized businesses, a plug-and-play co-lending platform, and an end-to-end fulfillment platform catering to supply chain networks across diverse industries.
The company collaborates with over 100 leading Indian brands, including NIVEA, Tata Motors, Berger Paints, Jockey, Polycab, and Bridgestone Tyres.
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