B2B digital lending startup Mintifi raised $40Mn in Series C led by Norwest Venture Partner & others
B2B digital lending startup, Mintifi, raised $40 million in Series C led by Norwest Venture Partners and Elevation Capital. The company has raised $60 million in equity and debt.
Mintifi's over 100 brands include Tata Motors, Bridgestone Tyres, Berger Paints, Polycab, Nivea, and Jockey. It assists distributors and retailers in unlocking their supply chain by digitising payments, invoicing, and purchase financing solutions. The startup intends to use the new funding to strengthen its technology infrastructure and expand its product offerings. Mintifi will also use the funds to expand its platform and develop an end-to-end fulfilment platform in order to deepen its engagement across the supply-chain network. Mintifi's payment and financing stack creates a win-win situation for brands, distributors, and retailers by reducing payment processing time and increasing inventory turns, thereby fueling revenue growth throughout the supply chain.