Fintech startup Mintoak acquires ICC Loyalty

Mumbai-based fintech company Mintoak has acquired Dubai-headquartered ICC Loyalty, a firm specializing in rewards and loyalty infrastructure. The acquisition was funded primarily through Mintoak's balance sheet, supported by a small debt component. ICC Loyalty will operate as a wholly-owned subsidiary of Mintoak, retaining its current team and leadership to ensure operational continuity.Founded in 2010 ICC Loyalty serves over 11 million banking customers across 30 banks in 10 countries through personalized rewards, lifecycle marketing, and engagement programs.Mintoak plans to use the acquisition to cross-sell its merchant engagement platform to ICC’s existing client base while integrating ICC’s rewards infrastructure into its own banking offerings.