PE Fund Investments
Supply chain financier for SMEs Mintifi bags $100-M from TVG, Prosus
Mumbai-based supply chain financing platform Mintifi has raised a total of USD 180 million (INR 1500 crore) in this Series E funding round through a mix of primary and secondary transactions led by Teachers’ Venture Growth (TVG) and Prosus with participation from existing investor Premji Invest. The investment is set to provide early investors with an 11X exit along with ESOP liquidity for its employees.Earlier this month, Prosus acquired a 10.65% stake in Mintifi with an investment of USD 80 million.The firm plans to use the primary proceeds to expand on new offerings, including dealer management systems and loans against property, besides leveraging AI to enhance user experience.Founded in 2017 by Anup Agarwal, Ankit Mehta and Sanjoy Shome, Mintify helps small and medium enterprises (SMEs) in financing requirements.
Between Nov 2017 and Oct 2024, Mintifi had raised about USD 250 M from Prosus Ventures, Elevation Capital, IFC, Norwest, PremjiInvest and Lok Capital.
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