Merchant SaaS Platform Mintoak procures Fintech Startup Digiledge
For an undisclosed sum, merchant software platform Mintoak purchased fintech startup Digiledge, which specializes in bill payment and Central Bank Digital Currency (CBDC) solutions.
Mintoak's goal of assisting banks and acquirers in attracting, retaining, and profiting from merchants is strengthened by this acquisition. With the addition of bill payment and CBDC features, Mintoak gives acquirers cutting-edge tools to help SMEs in the digital era.
Mintoak, which was founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, provides a range of software as a service (SaaS) applications that assist banks and merchant acquirers in interacting with SMEs and promoting the cross-selling of financial products.
The seven-year-old business provides services to more than 1.5 million merchants in India and outside markets like the Middle East and Africa, as well as major banks like HDFC Bank, SBI, and YES Bank.
Fintech pioneer Digiledge offers enterprise-class blockchain solutions for the financial industry. Indian banks have embraced its sophisticated bill payment and CBDC stack, which improve payment infrastructure, modernize financial workflows, and guarantee safe transactions.
Z3Partners led Mintoak's recent secondary investment round, which raised 
71 crore, or about $8.2 million.
TheKredible, a startup data analytics platform, reports that Mintoak's operational income in FY24 was 72.59 crore, up from 42.3 crore in FY23. Its losses during that time doubled to 21.45 crore.
“This acquisition is a major milestone in our mission to support SMEs with an all-in-one merchant payments and commerce platform. By adding Digiledge’s bill payments and CBDC capabilities, we are making it easier for merchant acquirers to grow and help more SMEs access digital tools and financial services. Together, we’re changing the way merchants do business in a digital world,” said Raman Khanduja, Co-Founder and CEO of Mintoak.
“Joining forces with Mintoak opens up new opportunities for us to operate at scale and expand our reach into international markets. This partnership empowers us to deliver more value and support the SME ecosystem globally,” added Mahesh Govind, Co-Founder and CEO, Digiledge.
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