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Total amount raised
$173M
Latest funding date
2025-10-31
Location
Snapmint has successfully raised funding through 8 rounds, attracting the support of 18 investors, including notable names like Prudent Investment Managers and General Atlantic. The company offers a unique platform that enables consumers to shop online using cardless, paperless EMIs.
Keep reading to explore the intricacies of Snapmint's fundraising journey and the investors backing this innovative platform.
What Is Snapmint?
Snapmint is a financial technology company based in Mumbai, Maharashtra, India. It specializes in providing cardless, paperless, online shopping EMIs to consumers, making it easier for them to purchase a wide range of products without the need for a credit card.
Operating in the consumer lending and financial services industry, Snapmint has a workforce of 101-250 employees. The company has successfully raised funding through multiple rounds totaling at least $172.9 million, with notable investors like Prudent Investment Managers, General Atlantic, and Kae Capital backing its innovative platform.
How Much Funding Has Snapmint Raised?
- Series B
- Amount Raised: USD 125,000,000 ($115M primary + $10M secondary)
- Date: October 31, 2025
- Lead Investors: General Atlantic
- Other Investors: Prudent Investment Managers, Kae Capital, Elev8 Venture Partners, existing angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Snapmint's EMI-on-UPI offering and grow its merchant network across India.
- Pre-Series B
- Amount Raised: USD 18,000,000 (mix of debt and equity)
- Date: December 12, 2024
- Lead Investors: Prashasta Seth (Prudent Investment Managers)
- Other Investors: Perpetuity Ventures, Pegasus Fininvest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate with more shopping portals, expand the merchant network, and grow the balance sheet for increased disbursements.
- Debt Financing / Series A (Equity + Debt)
- Amount Raised: USD 21,000,000 (mix of equity and debt)
- Date: October 17, 2022
- Lead Investors: Prashasta Seth (Prudent Investment Managers) — equity; Northern Arc Capital — debt
- Other Investors: Kae Capital, 9 Unicorns, Anicut Capital, Negen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To add more merchants to Snapmint's network and expand lending capabilities.
- Series A
- Amount Raised: USD 9,000,000 (approx. INR 670,000,000)
- Date: March 1, 2022
- Lead Investors: Prashasta Seth (Prudent Investment Managers)
- Other Investors: 9 Unicorns, Anicut Capital, Negen Capital, Ramakant Sharma (Livspace co-founder), angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the merchant network, launch new BNPL products, and grow market presence.
- Seed
- Amount Raised: Undisclosed
- Date: November 30, 2018
- Lead Investors: Secocha Ventures
- Other Investors: Kae Capital and other early investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch Snapmint's platform and begin operations.
Total Amount Raised: At least USD 172,900,000 based on disclosed funding (seed round amount undisclosed).
Current Valuation: Not publicly disclosed
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They led Snapmint's Series B round in October 2025.
- Investment Focus Areas: Technology, Consumer, Financial Services, Healthcare
- Notable Investments: Airbnb, Alibaba, ByteDance
- Prashasta Seth / Prudent Investment Managers
- Details: Prashasta Seth is the CEO & CIO of Prudent Investment Managers and has been a lead investor in Snapmint since 2020, participating in the Series A (March 2022), equity/debt round (October 2022), and Pre-Series B (December 2024).
- Investment Focus Areas: Fintech, Consumer Goods, Technology
- Notable Investments: Snapmint (multiple rounds)
- Kae Capital
- Details: Kae Capital is an early-stage venture capital firm based in India. They have been involved with Snapmint from its seed stage through to the Series B round in 2025.
- Investment Focus Areas: Early-stage Indian startups, Technology, Consumer Internet
- Notable Investments: Snapmint (multiple rounds)
- Northern Arc Capital
- Details: Northern Arc is a financial services platform that provides access to debt for underbanked individuals and businesses. They led the debt component of Snapmint's October 2022 round.
- Investment Focus Areas: Financial Inclusion, Microfinance, Small Business Lending
- Notable Investments: Various microfinance institutions
- Secocha Ventures
- Details: Secocha Ventures is an early-stage venture capital firm that was among Snapmint's seed investors in November 2018.
- Investment Focus Areas: Technology, Consumer Internet, Healthcare
- Notable Investments: Various early-stage tech startups
What's Next for Snapmint?
Snapmint is poised for significant growth as it integrates with more shopping portals and expands its merchant network. With over 35 million app downloads and operations across 26,000 PIN codes in India, the company is well-positioned to capitalize on the increasing adoption of Buy Now Pay Later (BNPL) platforms. The potential for co-lending partnerships with large banks further enhances its lending capabilities.
Future fundraising opportunities are likely, given Snapmint's rapid growth and ambitious expansion plans. The company may attract additional investments to support its scaling efforts and technology enhancements. However, challenges such as competition from other BNPL platforms and maintaining low default rates could pose hurdles along the way.
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