A supply chain finance fintech firm called Mintifi is in negotiations to fund at least $60 million at a valuation that is now double that amount. The platform supported by the International Finance Corporation (IFC) hopes to strengthen equity with the new cash infusion and increase its lending book to as high as $1 billion.


The company is aiming for a $350 million pre-money valuation. Investment bank Avendus Capital has been chosen by Mintifi to serve as the deal's exclusive financial advisor. Because Avendus and Mintifi declined to comment, YourStory was unable to independently verify the information in the story.

When it raised $40 million in its Series C round from Norwest Venture Partners and Elevation Capital in February of last year, the startup's latest estimated valuation was between $150 million and $200 million. The money was allocated to developing Mintifi's technological foundation and increasing the range of its products.

Mintifi provides distributors and retailers with digital solutions for payments, invoicing, and purchase financing. It was founded in 2017 by Anup Agarwal, Ankit Mehta, and Sanjoy Shome. It provides a plug-and-play co-lending platform, a BNPL platform for SMEs, and is developing an end-to-end fulfilling platform for the supply chain network spanning industries. According to the firm, it collaborates with more than 100 well-known companies in India, including Bridgestone Tires, NIVEA, Tata Motors, Polycab, Berger Paints, and Jockey.