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Mintifi secures $180 million from Prosus, others in a mix of primary, secondary capital

Economic Times · 3m

Mumbai-based lending platform Mintifi has raised $180 million in a fresh equity funding round. PayU parent Prosus and Ontario Teachers' Pension Plan (OTPP) each invested $80 million, while Premji Invest invested $20 million. With this round, Mintifi will be valued at around $825 million. Mintifi provides invoice-backed credit to brands through its non-banking finance company (NBFC) model, serving over 300 brands and offering credit to around 40,000 small businesses. The company has been profitable for the last few years and aims to achieve a net profit of Rs 160 crore in the current fiscal year.