PE Fund Investments
Commerce enablement platform for MSMEs Mintoak attracts $20-M led by PayPal
Mintoak, a Mumbai-headquartered Software-as-a-Service (SaaS) platform focused on merchant services, has raised USD 20 million led by PayPal Ventures with participation from British International Investment (BII) and existing investors HDFC Bank and Pravega Ventures. HDFC Bank increased its stake to 7.75% from 5.20% through its investment. Institutional investors, such as White Whale Partners, also invested in the round. Co-founded by Raman Khanduja in 2017, Mintoak is a one-stop commerce enablement platform powering digital payments and engagement solutions for MSMEs (micro, small and medium enterprises). The platform claims to serve over 1.5 million merchants through 285 million annualized transactions.
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