Mintoak Raises $20M in Series A Funding
- 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
- The company 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
- 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
