Indian merchant SaaS firm Mintoak is set to raise about ₹53 crore in a fresh funding round at a post-money valuation near ₹2,500 crore, a move that underscores investor confidence in its B2B fintech platform focused on merchants and banks.
Funding round and investors
The round is being led by existing backers, with PayPal Ventures expected to take a significant stake alongside participation from Pravega Ventures. The infusion will consolidate Mintoak’s valuation at roughly ₹2,500 crore and signal continued interest in companies building payments and merchant-engagement infrastructure.
Business model and product focus
Founded by Raman Khanduja, Rama Tadepalli and Sanjay Nazareth, Bengaluru-headquartered Mintoak provides software platforms that enable banks and financial institutions to deepen engagement with merchant clients. Its solutions go beyond payments to include merchant analytics, loyalty programmes and digital engagement tools that help banks drive retention and incremental revenue from small and medium businesses.
Use of proceeds and strategic aims
Proceeds from the round are likely to be directed towards accelerating product development, expanding into new geographies and strengthening partnerships with acquiring banks and payment processors. As competition in merchant-focused fintech intensifies, the capital will help Mintoak scale operations and maintain a lead on innovation.
Financial performance and investor appeal
Mintoak reported healthy year-on-year revenue growth in the financial year ending March 2025, driven by increased adoption of its platform among domestic and international banking partners. Management has also delivered notable improvements in net profit, signalling operational efficiency and a sustainable recurring-revenue model—attributes that are attracting investor interest in a funding environment that prizes financial discipline.
Market positioning and strategic expansion
Operating primarily as a B2B provider, Mintoak helps banks transform into digital-first partners for merchants by bundling payments, business insights and loyalty services. This approach has enabled long-term relationships with large financial institutions and predictable revenue streams.
The company has supplemented organic growth with targeted acquisitions, most recently buying Digiledge, a fintech specialist in bill payments and solutions linked to central bank digital currency (CBDC) initiatives. The acquisition broadens Mintoak’s product suite and positions it to capitalise on emerging opportunities such as CBDC-enabled payments and advanced bill-pay platforms.
Sector outlook
The planned funding round reflects broader optimism around India’s fintech infrastructure space. With digital transactions continuing to expand, demand for robust, scalable merchant platforms is expected to grow, favouring firms that can offer banks and merchants integrated, data-driven services.
Backed by fresh capital and steady financial performance, Mintoak is positioned to strengthen its leadership in the merchant SaaS segment and further embed itself in India’s evolving digital payments and banking-technology ecosystem.
