India’s Mintifi raises $180m in Series E funding round
Mintifi, an Indian-based supply chain financing platform, has bagged $180 million through a Series E funding round aimed at supporting product development.
Mintifi bags $180m Series E
The round was co-led by Prosus Group and Teachers’ Venture Growth (TVG), the growth equity investment arm of Ontario Teachers’ Pension Plan, with additional support from existing shareholder Premji Invest.
In connection with the investment, TVG’s India head, Darius Vakil, and Prosus’ India MD, Apoorve Goyal, will join Mintifi’s board of directors.
Founded in 2017 and headquartered in Mumbai, Mintifi claims to provide end-to-end supply chain fulfilment for over 100 leading Indian brands.
Mintifi’s platform offers an array of financing, payment and invoicing solutions. Moreover, its automated transaction engine facilitates instant monetisation of receivables, enabling SMEs to access services such as collections, invoicing, risk management and reconciliation.
With its latest funding, which brings Mintifi’s total capital base to over $1 billion, the company aims to “expand on its new offerings”, such as loans against property, domestic and overseas factoring, dealer management systems, and using AI to enhance “experiences for corporate clients and their supply chain partners”.
Commenting on its latest investment, Deepak Dara, senior MD and head of India for Ontario Teachers, states: “Mintifi’s distinctive model of providing invoice-backed credit directly to brands, reinforced by robust risk guardrails and a proprietary tech stack, positions it as a leader in India’s supply chain finance landscape.”
