SaaS platform Mintoak, raised $20 million in Series A led by PayPal Ventures where British International Investment, HDFC Bank, Pravega Ventures, and other institutional investors like White Whale Venture Fund also participated.
Mintoak’s SaaS offerings are intended to help banks and merchant acquirers engage with their SME customers and drive financial product cross-selling. Its technology platform is responsible for omni-channel payments, real-time analytics for business owners, SME commerce enablement solutions, and capital access. Mintoak stated that it intends to use this funding to improve its technology stack and expand its existing product portfolio. The company also stated that it intends to strengthen its presence in India while also expanding into new markets in the Middle East, Africa, and Southeast Asia.
