Company Research Report: Mintoak Innovations

Company Overview

• Name: Mintoak Innovations

• Mission: To empower and elevate small businesses and merchants through a comprehensive digital payments platform that bridges the gap between banks and SMEs globally.

• Foundation Year and Founders: Founded in 2017 by Raman Khanduja, Rama Tadepalli, Kabeer Jain, Sanjay Nazareth, and Rohit Ramana.

• Key People:

• Raman Khanduja - Co-Founder and CEO

• Rama Tadepalli - Co-Founder

• Headquarters: Mumbai, India

• Number of Employees: No information is available

• Revenue: Rs 44 crore for FY 2023

• Known For: Providing a modular, cloud-native, API-first payments platform for banks and merchants, particularly known for its SaaS solutions that enable digital payments and financial services.

Products

• Mintoak's Payments Platform

• Description: A SaaS platform designed for banks and merchant acquirers to enable comprehensive payment solutions and financial services for SMEs.

• Key Features:

• Cloud-based Toolkit: Secure integration for successful payments.

• Value-Added Services: Includes lending, customer engagement, and real-time analytics.

• Instant Onboarding: Digital interface for quick merchant registration.

• Modular Flexibility: Customizable solutions for specific business needs.

• Omni-Channel Payments: Real-time tracking and management through QR codes and POS devices.

Recent Developments

• Funding Activities: Successfully raised $20 million in a Series A funding round led by PayPal Ventures, with additional investments from British International Investment, HDFC Bank, and Pravega Ventures.

• Partnerships: Collaborated with leading Indian banks such as HDFC Bank, SBI, Axis Bank, and YES Bank. Also making strides in international markets such as Africa and the Middle East.

• International Expansion: Made senior executive appointments for growth in the Middle East and Africa, focusing on digital payments, regulatory compliance, and global partnerships.

• Product Developments: Continuously enhancing its platform and services, including features like real-time payment processing, efficient transaction management, and financial product integration.

• Achievements and Recognitions: Participated in the Mastercard Start Path Emerging Fintech Program and listed in the Visa Global Registry of Service Providers.

Mintoak Innovations continues to advance its vision by aligning with banks to offer SMEs accessible financial services and streamlined business operations. The firm is poised for further growth with plans for increased international presence and robust product offerings tailored to meet the evolving needs of the global digital economy.