Mintifi raises $180 million in funding, valuation soars to $850 million
Subscribe to enjoy similar stories. MUMBAI : Mintifi Finserve, a supply-chain financing startup, secured $180 million in a Series E funding round on 10 December, led by Teachers’ Venture Growth, the late-stage investment arm of Ontario Teachers’ Pension Plan (OTPP), and global investor Prosus. Existing backer Premji Invest also participated in the round, which comprised both primary and secondary transactions.
Of the total funding, $100 million represents a primary capital infusion, while the remainder facilitated liquidity for early investors. Read this | Mobikwik seeks valuation of around $250 million, cuts issue size “The secondary transaction includes a share sell by Lok Capital, our first backer, and a partial sell-down by IFC, which invested in 2019," chief executive Anup Agarwal said in an interview with Mint. He added that some employee stock options (ESOPs) were also monetized.
“Our early backers got a phenomenal exit as part of this transaction, making about 11-12x return in the investment." The funding round values Mintifi at $850 million, up from $500-550 million last year. The company raised $110 million in its previous round in March 2023, led by Premji Invest, alongside Norwest Venture Partners, Elevation Capital, and IFC. With the latest capital infusion, Mintifi’s total funding now stands at approximately $355 million.
Agarwal noted that the company is considering an initial public offering (IPO) within the next three years, contingent on market conditions. "Our capital solution helps founders consolidate their capital and prepare for the next round of growth. Having mature, long-term capital in the company prior to their IPO provides significant stability to the business," said Deepak Dara, senior
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