Avendus Capital Advises Mintifi on Its USD 40 mn Series C Fundraise Led by Norwest Venture Partners and Elevation Capital

The entire B2B ecosystem is at the cusp of a massive transformation across credit, payments and fulfilments and we are happy to play our bit in driving it. Today, across industries, brands are using our platform to drive higher efficiency and faster growth in their supply chain network and we will continue to help SMEs grow their businesses. More importantly, we are proud to drive these innovations, while still ensuring profitability. We are thrilled to welcome Norwest Venture Partners and Elevation Capital as we gear up for our next phase of growth.

Norwest is delighted to lead a growth investment round in Mintifi. Mintifi adopts a full stack approach to address the transaction, financing and payments needs of the B2B ecosystem through its unique B2B BNPL solution and technology platform. Mintifi’s offering has witnessed strong adoption from over 100 leading brands in India, while operating a profitable business model. We are excited to partner with Anup, Ankit and Sanjoy on this journey in creating one of India’s largest B2B BNPL platform.

At Elevation, we are big believers in the opportunity that contextual and corporate-led supply-chain credit can unlock for B2B commerce in India. Over the years, Mintifi has created a distinctive business model with a very strong product-market fit and customer delight and as a result, the business has demonstrated strong growth as well as unit economics. We are privileged to be partnering with the Mintifi team on their journey to scale their credit offerings and pursue fulfilment opportunities with the vision to become the best supply chain fintech platform.

B2B BNPL financing is a USD 400 billion+ opportunity which remains underpenetrated due to lack of low-ticket size financing and high operational costs. Mintifi has pioneered the low CAC GTM strategy by deeply integrating their full stack tech platform with leading brands, while also offering customised financing solutions. This enables them to scale rapidly while maintaining profitability. This investment by leading fintech investors is a testament to their vision and on ground execution capabilities. We are thrilled to partner with them on this journey.