Bengaluru-based 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, driven by existing backers. The raise, led by PayPal Ventures with participation from Pravega Ventures, signals sustained investor confidence in the company’s merchant-focused fintech infrastructure.
Business model and founders
Founded by Raman Khanduja, Rama Tadepalli and Sanjay Nazareth, Mintoak builds software platforms that help banks and financial institutions engage merchants beyond payments. Its solutions include merchant analytics, loyalty programmes and digital engagement tools that enable banks to offer value-added services to small and medium enterprises and capture recurring revenue streams.
Funding round details and use of proceeds
Existing investors are expected to lead the round, with PayPal Ventures contributing a significant portion and Pravega Ventures also participating. The infusion will raise Mintoak’s valuation to roughly ₹2,500 crore and is earmarked to accelerate product development, support geographic expansion and deepen partnerships with banks and acquirers.
As competition intensifies in merchant-focused fintech, the fresh capital aims to help Mintoak scale operations, enhance its product suite and maintain a technology edge in payments, loyalty and merchant engagement solutions.
Financial performance and investor appeal
Mintoak reported healthy year-on-year revenue growth for the financial year ending March 2025, driven by greater adoption of its platform by domestic and international banking partners. The company has also demonstrated improving profitability, increasing net profit and indicating operational discipline—qualities that are attracting investors focused on sustainable growth.
Strategic expansion and product roadmap
Alongside organic growth, Mintoak has pursued strategic acquisitions to broaden its capabilities. Its recent purchase of Digiledge, a fintech specialising in bill payments and central bank digital currency (CBDC) solutions, complements Mintoak’s objective of creating a comprehensive merchant technology platform.
These acquisitions position the company to capitalise on emerging opportunities such as CBDC-enabled payments and advanced bill payment systems, while expanding its product portfolio for banks and merchants.
Sector context and outlook
The fundraising reflects wider optimism in India’s fintech infrastructure segment, where demand for scalable, secure merchant platforms is rising with continued digital transaction growth. With fresh capital, improving financial metrics and a clear focus on bank–merchant engagement, Mintoak is well placed to consolidate its leadership in the merchant SaaS space and deepen its role in India’s digital payments and banking technology ecosystem.
