Teachers' Venture Growth (TVG) and international investment firm Prosus co-led a $180 million Series E funding deal for supply-chain financing startup Mintifi. Premji Invest, an existing supporter, took part in the fundraising as well.

The $80 million that Prosus disclosed last week is also included in the round. According to the press statement, Mintifi's worth jumped to $850 million after the new funding.

The finance consisted of $100 million in main capital and a secondary transaction that gave early investors liquidity and returns that were 11–12 times their initial investment. International Finance Corporation (IFC) partially sold its share in Mintifi, while Lok Capital, the company's original sponsor, left as part of the secondary sale. Additionally, the acquisition made it possible to monetize employee stock options (ESOPs).

The money raised supports the company's goals to expand the range of products it offers, such as factoring services, loans secured by real estate, and dealer management systems, while utilizing artificial intelligence to improve user experiences.

Mintifi, which was founded in 2017 by Agarwal, Ankit Mehta, and Sanjoy Shome, serves the last-mile distribution network and provides small and medium-sized businesses (SMEs) in a variety of industries with payment solutions, invoicing, and tailored financing options. The company works with more than 300 brands, such as Parle Products, TVS, Honda, and Asian Paints.

Minitifi is putting together a team to operationalize this new business area after recently obtaining a factoring license from the Reserve Bank of India (RBI).

In March 2023, Mintifi's loan book increased from Rs. 1,100 crore to Rs. 2,600 crore.