Mintifi is a B2B digital lending firm based in Mumbai, India is near completing the process of its latest funding round which is in talks to raise $100 million. This round expects major investors including Ontario Teachers’ Pension Plan (OTPP), Bain Capital, and Advent International with more than 20 others. This potential funding round provides evidence of the increasing focus of investors on fintech solutions for small and medium enterprises (SMEs).
Funding Details
Mintifi’s last major funding event was held in March 2023 and received $110 million during the Series D funding stage led by Premji Invest. This round included repeat investors like Norwest Venture Partners, Elevation Capital, and the International Finance Corporation (IFC). Since then, Mintifi has seen its valuation more than double from $200 million in 2022 to approximately $400 million in 2023.
The current funding discussions are hardly arising at a time when large-tick deals are making their way back into the Indian startup environment. Sources claim that over 20 investors are interested in the Mintifi $100 million investment round. The last call for the funding will be based on the valuation offered to Mintifi
Strategic and Financial Performance
The main sources of the additional cash are anticipated to be deployed towards scaling up the loan portfolio of Mintifi as well as the total disbursements. It provides credit solutions to companies that digitize and optimize their supply chains including Tata Motors, Nivea, and Page Industries. It also enables distributors to order inventory and pay later making it easier for them to operate.
An important factor that contributed to attention from investors, its financial performance is reported. The company became profitable in the year FY 2023 where they posted a net profit of ₹25 crore with revenue of ₹227 crore. Although the FY24 results are yet to be filed with the Indian stock exchanges, the company’s cash-rich status has emerged as a key factor to support the failed funding expectations with the desired valuation during the current funding round.
Mintifi’s Technology Stack
Mintifi uses the full technology stack to bolster its B2B digital lending and supply chain financing products. Mintifi leverages newer web technologies including HTML5, CSS3, and Javascript frameworks including React. js imperative in creating reliable web interfaces that are flexible, and capable of responding to user inputs. The backend leverages reliable platforms such as Node. js and Django, which deal with server-side logic and API functionality.
Mintifi has developed its mobile application using development technologies such as React Native enables app development for both iOS and ANDROID. Structured data are stored in relational databases such as PostgreSQL and MySQL while unstructured data in NoSQL such as MongoDB databases.
AWS (Amazon Web Services) provides Mintifi with the required cloud services to enable flexibility and security. It has various services including computing with EC2, storage with S3, and relational database services with RDS. It connects with different payment processors and other financial companies for efficient transaction and funding capabilities.
It is for this reason that security is one of the most vital aspects when it comes to using Mintifi. It assists in transitioning from the financial approaches that hinder financial operations to those that support the automation of such processes. The business model employs the application of data analytics to generate information on financial trends, credit risk, and customer behavior. This is crucial in decision-making processes and the enhancement of organizational operations.
Mintifi also uses Customer Relationship Management (CRM) in the management of customers’ communications, leads, and service delivery. This leads to increased customer satisfaction and loyalty. The implementation of CI/CD pipelines with Jenkins and GitLab CI/CD pipelines are implemented with CI/CD. Thus, it is possible to check that code changes undergo testing and deployment, which makes the process of software releases faster and more reliable.
Conclusion
Mintifi is planning a $100 million funding round, which reflects the increased interest of investors in fintech platforms targeting SMEs. The vertical business model, excellent performance, and clear strategic plan make Mintifi ready to capitalize on the new funds for its growth and development.
