Merchant-focused SaaS platform Mintoak has secured Rs 53.3 crore (approximately $6 million) in a Series A extension round from its existing investors PayPal Ventures and Pravega Ventures, reinforcing confidence in the company’s growth trajectory. The funding follows an $8 million secondary transaction completed earlier this year.

As per regulatory filings, Mintoak’s board approved the issuance of 21,422 Series A2 preference shares at an issue price of Rs 24,879 per share. Of the total capital raised, PayPal Ventures will invest Rs 35.53 crore, while Pravega Ventures will contribute Rs 17.76 crore, further increasing their shareholding in the company. The round values Mintoak at an estimated Rs 2,500 crore ($280 million) post-money.

Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, Mintoak offers a comprehensive SaaS platform that enables banks and merchant acquirers to engage small and medium enterprises through value-added financial services. The fresh capital will be used to support expansion initiatives and ongoing business requirements.

Mintoak continues to demonstrate strong financial performance, reporting 27.9% year-on-year revenue growth to Rs 92.85 crore in FY25 and a 56% increase in net profit to Rs 35.58 crore. Recently, the company also strengthened its product capabilities through the acquisition of Digiledge, enhancing its offerings in bill payments and CBDC solutions.