Mintifi, a supply chain financing platform said it has raised $110 million in its Series D funding round led by Premji Invest with participation from existing investors, Norwest Venture Partners, Elevation Capital and International Finance Corporation (IFC).
“This fresh fund infusion will be used to deepen presence across key sectors and consolidate market leadership in downstream supply chain financing,” the firm said in a statement.
It said it aims to expand on its new offerings like B2B payments, dealer management system and bolster its tech infrastructure.
Additionally, it seeks to enhance engagement across the supply chain network by building an ecosystem of end-to-end fulfilment products across anchors and borrowers.
Mintifi said it has grown over 4 times year-on-year with annualised purchases financed of over $1 billion and is expected to touch $3 billion by the end of FY24. Avendus Capital acted as the financial advisor for this transaction.
