# Mintoak Innovations Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mintoak-innovations-private

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.mintoak.com
- Total disclosed funding: $23M
- Latest round: Series A (Feb 21, 2023)
- Investors on record: 5

## About

Mintoak Innovations Private Limited, based in India, specializes in providing advanced payment solutions for merchant acquirers and their ecosystems, enhancing transaction management and onboarding processes.Founded in 2017 in Mumbai, India, Mintoak Innovations Private Limited focuses on empowering merchant acquirers with a suite of comprehensive payment solutions. The company was established by Kabeer Jain, Rama Tadepalli, Raman Khanduja, and Sanjay Nazareth, with Raman Khanduja serving as the CEO. Mintoak has completed a total of 4 deals, with the latest funding round occurring on February 21, 2023. In this Series A round, the company raised USD 20.00 mn, led by PayPal Ventures, with other participants including British International Investment, HDFC Bank, Pravega Ventures, and White Whale Partners. Overall, Mintoak has raised a total of USD 710.00 mn.Mintoak's core product offerings empower merchant acquirers and their associated ecosystems with a comprehensive suite of solutions. Their white-labeled merchant platform facilitates smart payment solutions, enabling seamless onboarding, transaction management, and risk assessment for diverse merchants. Key products include Mintoak DigiOnboard for digitizing merchant onboarding, Mintoak SoundHub for soundbox services, and integrated bill payment solutions certified by NPCI. The platform supports both static and dynamic QR codes and offers real-time transaction tracking, order management, and business credit card services, serving over 3 million merchants across more than 19,000 pin codes, primarily in India, where demand for integrated digital payment solutions is growing.In the most recent fiscal year 2023, Mintoak Innovations reported revenue of USD 5,270,156.40 and an EBITDA of USD 1,982,367.30. The company's revenue model is anchored in transactional fees generated through various services including merchant onboarding, transaction processing, and embedded financial products. Mintoak engages directly with merchant acquirers who serve small and medium enterprises, deriving income from transaction fees associated with each processed payment.Following the USD 20.00 mn Series A funding round in February 2023, Mintoak plans to utilize the capital to expand its market reach and operations. The company is focused on launching new products designed to enhance its payment solutions, although specific release dates have not been disclosed. Additionally, Mintoak aims to penetrate new markets, particularly targeting regions within India to further its digital payment solutions and increase its operational footprint. In December 2025, Mintoak Innovations Private Limited raised USD 6 million in venture funding from unspecified investors.

## Funding rounds

- Series A, Feb 21, 2023, $20M — British International Investment, HDFC Bank, Pravega Ventures, PayPal Ventures, White Whale Partners
- Series A, Aug 25, 2021, $1M — HDFC Bank, Pravega Ventures
- Series A, May 4, 2020, $2M — Pravega Ventures

## Investors

- Pravega Ventures (https://capitalatlas.ai/funds/pravega-ventures) — Series A
- HDFC Bank — Series A
- British International Investment — Series A
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series A
- White Whale Partners (https://capitalatlas.ai/funds/white-whale-partners) — Series A