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Mintoak Secures $6M Series A Funding

Recently funded · $6.0M Series aFinancial Services

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Mintoak, a merchant SaaS platform, has secured $6,000,000 in its latest funding round. The company specializes in providing a platform designed to enable merchant acquirers to monetize and empower their Small and Medium-sized Enterprises (SMEs) through payments and commerce enablement solutions. Its technology assists merchant acquirers in rapidly deploying and scaling their SME base by offering comprehensive solutions for payments, cross-selling, service management, and gamified loyalty campaigns.

Mintoak's modular, cloud-native, and API-first platform is engineered for seamless integration with existing merchant acquirer infrastructure. This design facilitates a faster go-to-market strategy for its clients, allowing them to adapt quickly to market demands. To date, Mintoak has empowered over 4 million merchants across six countries, specifically in South Asia, Africa, and the Middle East. Its client roster includes prominent financial institutions such as HDFC Bank, State Bank of India, Axis Bank, YES Bank, and Karnataka Bank in India, alongside international partners like Absa Bank, Burgan Bank, Ahli United Bank, Network International, and NMB Bank.

This significant capital infusion underscores investor confidence in Mintoak’s proven business model and its capacity to provide essential infrastructure for the evolving merchant acquiring sector. The company plans to strategically deploy the $6,000,000 to accelerate its product development roadmap, expand its operational footprint into new geographic markets, and strengthen its engineering and customer support teams.

The investment is expected to bolster Mintoak's position as a key enabler for financial institutions seeking to optimize their merchant services. Looking ahead, Mintoak aims to further enhance its platform's functionalities, supporting a broader range of merchant acquirers in their efforts to serve and grow their SME client base globally.

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