🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding

EntrackrEntrackr · 1y ago
PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding
Medial

PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding Mintoak, a merchant SaaS platform catering to banks and merchant acquirers, has raised Rs 71 crore (around $8.2 million) in a secondary funding round led by Z3Partners. As part of this transaction, Z3Partners will acquire a minority stake from some of Mintoak’s early institutional investors. However, the company did not disclose the names of the investors involved in the secondary transaction. In February 2023, the Mumbai-based startup raised $20 million in its Series A funding round led by PayPal Ventures and others. In December 2022, HDFC Bank acquired a minority stake in the Mumbai-based fintech startup Mintoak for a cash consideration of $3.7 million. It then increased its stake to 7.75% from the current 5.20%. The Mumbai-based firm has raised Rs 192 crore (nearly $25 million) to date. Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, the company’s product suite includes a range of SaaS offerings that help banks and merchant acquirers connect with their small and medium enterprise (SME) customers and drive the cross-sell of financial products. The seven-year-old firm claims to serve over 1.5 million merchants across leading banks, including HDFC Bank, SBI, and YES Bank in India and international markets such as Africa and the Middle East. The startup enables merchant acquirers to deploy and rapidly scale their SME base through payments, cross-selling, service, and gamified loyalty campaigns. Mintoak claims to have empowered 3 million merchants across 6 countries in South Asia, Africa, and the Middle East. According to the startup data intelligence platform TheKredible, Mintoak registered Rs 72.59 crore in revenue from operations in FY24 against Rs 42.3 crore in FY23. During the period, its losses jumped twofold to Rs 21.45 crore. Z3Partners invests in high-growth, tech-driven companies across India, focusing on sectors such as consumer tech, fintech, healthtech, SaaS, and tech-enabled businesses. The firm’s portfolio includes companies like Altum Credo, Bhanzu, DealShare, Shipsy, TrueFan, among others. Some of its prior investments have been Bigbasket, OfBusiness, and others.

6

Related News

Exclusive: Mintoak to raise fresh funding at Rs 2,500 Cr valuation

EntrackrEntrackr · 16d ago
Exclusive: Mintoak to raise fresh funding at Rs 2,500 Cr valuation
Medial

Exclusive: Mintoak to raise fresh funding at Rs 2,500 Cr valuation Merchant SaaS platform Mintoak is set to raise Rs 53.3 crore (about $6 million) in its ongoing Series A round from its existing investors Paypal and Pravega Ventures. This follows the company’s $8 million secondary transaction completed in January this year. The Mintoak board has approved the issuance of 21,422 Series A2 preference shares at an issue price of Rs 24,879 per share, raising a total of Rs 53.30 crore, according to filings with the Registrar of Companies (RoC). PayPal Ventures will invest Rs 35.53 crore (around $4 million) while Pravega Ventures will contribute with Rs 17.76 crore ($2 million) investment to increase its stake in the firm. As per Entrackr’s estimates, the company will be valued at around Rs 2,500 crore ($280 million) on a post-money basis. The fresh funds will be utilised to support expansion plans and meet the company’s funding requirements. According to startup data intelligence platform TheKredible, Mintoak has raised over $30 million to date including its $20 million Series A round raised in Feb 2023 led by Paypal. Following the allotment of the latest infusion, PayPal Ventures will hold a 9.02% stake in Mintoak, while Pravega Ventures will own 18.3%. Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, the company’s product suite includes a range of SaaS offerings that help banks and merchant acquirers connect with their small and medium enterprise (SME) customers and drive the cross-sell of financial products. For the fiscal year ended March 2025, Mintoak’s revenue from operations grew 27.9% year-on-year to Rs 92.85 crore from Rs 72.59 crore in FY24. The fintech firm also reported a 56% jump in net profit to Rs 35.58 crore during the year, compared to Rs 22.76 crore in FY24. Shortly after the secondary fundraise, Mintoak acquired fintech startup Digiledge, which focuses on bill payments and Central Bank Digital Currency (CBDC) solutions, in a deal whose value was not disclosed. The acquisition supports Mintoak’s strategy to help banks and acquirers deepen merchant engagement, improve retention, and unlock new revenue opportunities.

Exclusive: StockGro secures Rs 50 Cr debt from Trifecta

EntrackrEntrackr · 4m ago
Exclusive: StockGro secures Rs 50 Cr debt from Trifecta
Medial

url: https://entrackr.com/exclusive/exclusive-stockgro-secures-rs-50-cr-debt-from-trifecta-9780883 Content: Social investment and stock market advisory platform StockGro raised Rs 50 crore ($5.7 million) in debt funding from its existing investor Trifecta Capital. This debt funding follows the Rs 205 crore ($25 million) raised in two tranches in January 2024 from Hindustan Media Ventures and Trifecta Capital. According to filings with the Registrar of Companies (RoC), StockGro’s board approved the issuance of 500 Series B non-convertible debentures at a face value of Rs 10 lakh each, raising Rs 50 crore from Trifecta Capital. Founded in 2020 by former venture capitalist Ajay Lakhotia, the Bengaluru-based StockGro is a fintech platform that simplifies stock market investing through SEBI-registered advisors, offering investment advisory, portfolio management, and educational resources to help users navigate the market. Recently, StockGro has launched Stoxo, India’s first AI-powered stock market research engine. It offers real-time, reliable insights to help retail investors make better decisions. According to startup data intelligence platform TheKredible, the BITCRAFT Ventures-backed company raised over $50 million in both debt and equity, including its $32 million Series A round raised in January 2022. While the company is yet to file its FY25 numbers, its revenue from operations fell 34% to Rs 86.5 crore in FY24 from Rs 131 crore in FY23. During the same period, losses surged 84% to Rs 101 crore.

Download the medial app to read full posts, comements and news.