Indian fintech startup Mintoak is preparing to raise fresh capital in a new funding round, marking another milestone in its growth journey. The Bengaluru-based merchant SaaS company is expected to secure around ₹53 crore in fresh funding at a post-money valuation of nearly ₹2,500 crore. The round is being led by existing investors, reflecting continued confidence in Mintoak’s business model and long-term potential in India’s fast-evolving digital payments ecosystem.
Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, Mintoak focuses on building software platforms for banks and financial institutions to better engage with merchants. Its solutions help banks offer value-added services beyond payments, including merchant analytics, loyalty programmes, and digital engagement tools, enabling them to strengthen relationships with small and medium businesses.
Details of the Funding Round
As part of this funding round, PayPal Ventures is expected to contribute a significant portion of the investment, along with participation from Pravega Ventures. The capital raise will increase the company’s valuation to approximately ₹2,500 crore, highlighting Mintoak’s strong positioning in the fintech infrastructure space.
The funds are likely to be used to accelerate product development, expand into new geographies, and strengthen partnerships with banks and acquiring institutions. With competition intensifying in merchant-focused fintech solutions, this capital infusion will allow Mintoak to scale its operations while staying ahead on innovation.
Mintoak’s Strong Revenue Growth and Profitability
Mintoak’s financial performance has played a key role in attracting continued investor interest. In the financial year ending March 2025, the company reported healthy year-on-year revenue growth, driven by increased adoption of its platform by banking partners in India and international markets.
What stands out is not just top-line growth but also improved profitability. The company has managed to grow its net profit substantially, indicating operational efficiency and a sustainable revenue model. This balance between growth and profitability is increasingly valued by investors in a funding environment that prioritises financial discipline.
Focus on Banks and Merchant Engagement
Unlike consumer-facing fintech platforms, Mintoak operates primarily as a B2B technology provider. Its platform helps banks transform themselves into digital-first partners for merchants, offering tools that improve engagement, retention, and revenue opportunities.
By enabling banks to bundle services such as digital payments, business insights, and loyalty management, Mintoak plays a crucial role in strengthening the merchant ecosystem. This approach has helped the company build long-term relationships with large financial institutions while creating recurring revenue streams.
Strategic Acquisitions and Product Expansion
Mintoak has also been expanding through strategic acquisitions. Recently, the company acquired fintech startup Digiledge, which specialises in bill payments and central bank digital currency-related solutions. This acquisition aligns with Mintoak’s broader strategy of building a comprehensive merchant technology platform and staying relevant as digital payment infrastructure continues to evolve.
Such moves not only expand Mintoak’s product portfolio but also position it well to tap into emerging opportunities like CBDC-based payments and advanced bill payment systems.
Positive Outlook for the Fintech Sector
Mintoak’s upcoming funding round reflects broader optimism around India’s fintech sector, especially companies building core infrastructure for banks and businesses. As digital transactions continue to grow across the country, demand for robust, scalable merchant platforms is expected to rise.
With fresh capital, strong financial performance, and a clear focus on merchant-centric innovation, Mintoak appears well placed to strengthen its leadership in the fintech SaaS space. The proposed funding round at a ₹2,500 crore valuation underscores the company’s growing importance in India’s digital payments and banking technology landscape.