Chennai-based payment infrastructure startup Mylapay has raised $1 million in a fresh funding round, strengthening its position in India’s fast-evolving fintech ecosystem. The funding comes at a crucial time as the company prepares for a larger Series A round planned later this year. The new capital will be used to deepen its technology capabilities, expand its product offerings, and support international market entry.
Founded to solve complex backend payment challenges, Mylapay focuses on building modern, scalable payment infrastructure for banks, fintech firms, and regulated payment institutions. Over the past few years, the startup has steadily carved out a niche by offering robust, compliance-driven solutions that help enterprises manage high-volume payment operations efficiently.
Continued Support from Existing and New Investors
The latest funding round saw participation from both existing and new investors. Existing backers CDM Capital and Credit Saison doubled down on their earlier bets, signalling confidence in Mylapay’s long-term growth strategy. The round also welcomed GrowthCap Ventures, led by Pratekk Agarwaal, along with a group of strategic angel investors.
Earlier, Mylapay had raised $550,000 in seed funding, which helped the team build its core payment stack and onboard early enterprise customers. This $1 million infusion acts as a bridge round, giving the company enough runway to scale operations and show stronger traction ahead of its next institutional raise.
Building Scalable Payment Infrastructure
Mylapay’s strength lies in its unified acquiring and payment processing platform, which covers the full transaction lifecycle. From secure authentication such as 3D Secure to switching, clearing, settlement, reconciliation, and chargeback handling, the platform is designed to reduce operational complexity for financial institutions.
The company claims its infrastructure can process over 5,000 transactions per second, making it suitable for large banks and payment aggregators handling high transaction volumes. In addition, Mylapay’s systems are certified by major card networks including Visa, Mastercard, and RuPay, ensuring adherence to global compliance and security standards.
Use of Funds and Global Expansion Plans
According to the company, the fresh capital will be deployed across multiple strategic priorities. These include strengthening its core payment architecture, developing new enterprise-grade product modules, and expanding partnerships with banks and regulated payment institutions.
A significant portion of the funds will also be used to support international expansion, with early focus on markets in the Middle East, Africa, and the United States. These regions present growing demand for modern, compliant payment infrastructure as digital payments adoption accelerates globally.
Long-Term Vision in a Competitive Fintech Market
Founded in 2019, Mylapay operates in a highly competitive space dominated by both established payment processors and emerging fintech startups. However, its emphasis on a modular, compliance-first design positions it well as financial institutions look to replace legacy systems with more flexible and scalable solutions.
With fresh funding in place, investor confidence intact, and a clear roadmap toward Series A, Mylapay aims to become a key backend enabler for digital payments both in India and overseas. As demand for reliable, high-performance payment infrastructure continues to rise, the startup’s progress will be closely watched within the fintech ecosystem.