Mintoak Acquisition of Digiledge

Mintoak, a leading merchant SaaS platform, has successfully acquired the fintech startup Digiledge, which focuses on bill payments and Central Bank Digital Currency (CBDC) solutions. The details of the transaction remain undisclosed.

Enhancing Merchant Solutions

This acquisition serves to bolster Mintoak’s aim of assisting banks and acquirers in effectively engaging, retaining, and monetising merchants. By integrating bill payment functionalities and CBDC capabilities, Mintoak is poised to provide acquirers with sophisticated solutions tailored to support small and medium enterprises (SMEs) navigating the digital landscape.

About Mintoak

Mintoak was founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth. The company offers a variety of SaaS products designed to help banks and merchant acquirers connect with SMEs and promote financial product cross-selling. In just seven years, Mintoak has established a strong presence, serving over 1.5 million merchants associated with major banks such as HDFC Bank, SBI, and YES Bank across India, as well as in international markets including Africa and the Middle East.

Digiledge’s Contributions

Digiledge stands out as a fintech innovator, providing enterprise-grade blockchain solutions tailored for financial services. Its sophisticated bill payments and CBDC stack, which has been adopted by banks in India, significantly enhances payment infrastructure, digitises financial workflows, and guarantees secure transactions.

Recent Funding Activity

In a recent development, Mintoak raised Rs 71 crore (approximately $8.2 million) during a secondary funding round led by Z3Partners.

Financial Performance

As per information from various sources, Mintoak reported Rs 72.59 crore in operational revenue for FY24, compared to Rs 42.3 crore the previous fiscal year (FY23). However, it is important to note that the company’s losses increased substantially, reaching Rs 21.45 crore during the same period.