Chennai-based payments infrastructure startup Mylapay has secured $1 million in fresh funding to bolster its technology, expand product offerings and support international market entry ahead of a planned Series A later this year. The bridge round aims to provide runway for scaling operations and demonstrating stronger traction to institutional investors.
Investors and funding context
The round included participation from existing backers CDM Capital and Credit Saison, both of which increased their exposure, and new investor GrowthCap Ventures, led by Pratekk Agarwaal, alongside several strategic angel investors. This follows an earlier $550,000 seed round that helped build Mylapay’s core payment stack and onboard initial enterprise customers.
Product focus and capabilities
Mylapay develops unified acquiring and payment-processing infrastructure that covers the complete transaction lifecycle — from secure authentication (including 3D Secure) to switching, clearing, settlement, reconciliation and chargeback handling. The platform is aimed at banks, fintech firms and regulated payment institutions seeking to replace legacy systems with modular, compliance-first solutions.
The company says its systems can handle over 5,000 transactions per second and are certified by major card networks including Visa, Mastercard and RuPay, reflecting adherence to global security and compliance standards.
Use of proceeds and expansion strategy
The fresh capital will be used to deepen core architecture, develop enterprise-grade product modules and expand partnerships with banks and regulated payment entities. A substantial portion of the funds is earmarked for international expansion, with early focus on the Middle East, Africa and the United States — regions showing rising demand for modern, compliant payment infrastructure amid accelerating digital payments adoption.
Market position and outlook
Founded in 2019, Mylapay operates in a competitive fintech landscape that includes established processors and a growing number of startups. Its emphasis on scalability and regulatory compliance aims to position it as a backend enabler for high-volume payment flows. With this bridge funding and continued investor support, the company intends to scale operations and prepare for a larger Series A to accelerate growth in India and overseas.
