Mintoak, a software-as-a-service (SaaS) platform for banks and merchant acquirers, has raised Rs 71 crore through a secondary funding round. Z3Partners, an early-growth technology investment firm, has acquired a minority stake in the company, purchasing shares from some of Mintoak’s initial institutional investors.
The investment reflects growing confidence in Mintoak’s ability to strengthen merchant ecosystems, the company said. Founded in 2017, the platform supports banks in engaging with small and medium-sized enterprises (SMEs), enabling services such as payments, cross-selling, and loyalty campaigns.
“This fundraiser validates the value we have delivered to our early backers,” said Raman Khanduja, CEO and co-founder, Mintoak. “We are excited to welcome Z3Partners to our journey and look forward to leveraging their expertise as we scale further.”
Gautam Patel, founder and managing partner at Z3Partners, expressed optimism about the partnership. “Mintoak’s product-led growth and innovation are redefining collaboration between banks and SMEs,” Patel said. “Their leadership team has demonstrated strong expertise in working with banks and merchants globally, and we’re thrilled to support their global ambitions.”
Mintoak’s platform currently serves over 3 million merchants across six countries, facilitating transactions worth more than $50 billion annually. The company claims its API-driven infrastructure allows banks and acquirers to integrate its solutions quickly, improving efficiency and scalability.
In India, the company’s clients include HDFC Bank, State Bank of India, Axis Bank, and YES Bank. Internationally, it works with institutions such as Absa Bank, Network International, Burgan Bank, and NMB Bank.
Z3Partners’ investment in Mintoak marks the latest development in the fintech sector’s efforts to enhance SME engagement and streamline payment ecosystems. Analysts say this trend reflects the growing demand for digital tools to support small businesses, particularly in emerging markets.
While specific plans for the new funding were not disclosed, Mintoak indicated that the investment would support its ongoing efforts to expand globally and enhance its platform’s capabilities.
