BNPL Startup Snapmint Raises $21 Mn Debt & Equity Funding
Mumbai-based fintech startup Snapmint on Monday (October 17) said it has raised $21 Mn in a mix of equity and debt. The equity round was led by Prashasta Seth, CEO and CIO of Prudent Investment Managers, while it also saw participation from both existing and new investors like Kae Capital, 9 Unicorns, Anicut Capital, and Negen Capital.
On the other hand, the debt round saw participation of institutional investors led by Northern Arc Capital, and several high-net-worth individuals (HNIs), who made investments through non-convertible debentures.
Mumbai-based fintech startup Snapmint on Monday (October 17) said it has raised $21 Mn in a mix of equity and debt. The equity round was led by Prashasta Seth, CEO and CIO of Prudent Investment Managers, while it also saw participation from both existing and new investors like Kae Capital, 9 Unicorns, Anicut Capital, and Negen Capital.
On the other hand, the debt round saw participation of institutional investors led by Northern Arc Capital, and several high-net-worth individuals (HNIs), who made investments through non-convertible debentures.
- Snapmint raised funding through a mix of equity and debt, and the equity round was led by Prudent Investment Managers’ Prashasta Seth, with participation from Kae Capital, 9 Unicorns and others
- Snapmint’s debt round saw participation from institutional investors, led by Northern Arc Capital, and several high-net-worth individuals
- The BNPL player raised $9 Mn in the Series A round in March this year
The BNPL (Buy Now Pay Later) platform plans to deploy the fresh funds in expanding its online and offline merchant network to power the purchases of 550 Mn Indian PAN card holders.
The fundraise comes months after Snapmint raised $9 Mn in its Series A round from several marquee investors and industry leaders led by Seth in March this year.
Founded in 2017 by Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint aims to democratise credit access. Snapmint’s platform enables customers to shop products across ranges such as electronics, fashion, and more, in instalments. As a non-banking financial company (NBFC), the startup claims that it is compliant with the digital lending guidelines of the Reserve Bank of Indi (RBI).
