Snapmint, the Mumbai-based BNPL (Buy Now Pay Later) platform, has raised $18 million in a mix of debt and equity funding. The round was led by Prashasta Seth (Prudent Investment Manager) with participation from Perpetuity Ventures and Pegasus Fininvest.
Founded in 2017 by Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint empowers consumers to access credit for purchases ranging from electronics to everyday items. The platform boasts 8 million app downloads and serves over 4 million customers, many from tier II cities and smaller towns in India.
The funding will fuel Snapmint’s integration with shopping portals, expansion of its merchant network, and growth of its balance sheet. With a sixfold growth in 2022, driven by adoption from over 300 D2C brands, Snapmint continues to strengthen its foothold in the competitive BNPL space.
The company competes with notable players like ZestMoney, CASHe, and PaySense, and partners with lenders such as ICICI and AU Small Finance Bank.
News Source:entrackr，This article does not represent our position.
