Mintifi Secures $180 Mn Series E Funding Led by Ontario Teacher’s & Prosus

- With this capital infusion, Mintifi plans to expand its workforce by 50% in the next 12 months.

- Funding to be used for expanding operations, hiring talent, and developing new products.

- Mintifi aims to become a leading provider of embedded finance solutions in India.

Mintifi, a fintech startup providing embedded finance solutions, has closed a $180 million Series E funding round led by Ontario Teachers' Pension Plan Board and Prosus. The funding round also saw participation from existing investors including Norwest Venture Partners, Elevation Capital, and B Capital Group.

Mintifi had previously raised $110 million in funding from investors such as Elevation Capital, Sequoia Capital India, and others in March 2023.

Mintifi was founded in 2019 by Ankur Sharma, Ankush Sehgal, and Uma Sankar. Sharma, the co-founder and CEO of Mintifi, has over 10 years of experience in the fintech and banking industry. Prior to founding Mintifi, he worked with companies such as Paytm and ICICI Bank. Ankush Sehgal, co-founder and COO of Mintifi, has over eight years of experience in the fintech and payments industry. Whereas Uma Sankar, co-founder and CTO of Mintifi, has over 10 years of experience in the technology and software industry.

The funding raised by Mintifi is part of a larger trend of investments in the fintech sector.Several fintech companies have raised funding recently. 

For instance, Fido Tech raised Series B funding in October 2024. Salmon secured $30 million in Series A funding in October 2024, while Digitt, Ewalletly, and Nodepay raised seed funding in the same month. 

Novus Technologies raised $1.5 million in seed funding in October 2024, followed by Mozper's $979,000 seed funding. AMLYZE raised $2.6 million in seed funding in October 2024, and PayRange secured private equity funding in the same month. 

Other notable funding rounds include Infinite Giving's $2 million seed funding, Imprint's $75 million Series C funding, and TON's $10 million venture funding, all of which took place in October 2024.