Prosus, a Dutch technology investor, has announced significant investments in two Indian financial platforms, Vastu Housing Finance and Mintifi. The firm disclosed a $100 million infusion into Vastu Housing and an $80 million investment in Mintifi for FY25.
Mintifi, a Mumbai-based business-to-business (B2B) supply chain financing platform, secured $80 million from Prosus as part of a $100 million funding round. This investment grants Prosus a 10.65% stake in Mintifi, strengthening its role as an equity-accounted associate.
Founded in 2017, Mintifi has revolutionised B2B financing with its innovative buy-now-pay-later solution, empowering small and medium enterprises (SMEs) to purchase inventory on credit. By partnering with large conglomerates, Mintifi facilitates access to distributor networks and addresses supply chain financing gaps, particularly for businesses traditionally excluded from bank SCF products.
Before this round, Mintifi had raised $110 million in March 2023 from prominent investors like Premji Invest, Norwest Venture Partners, and IFC. The platform has cumulatively raised $170 million across five funding rounds, according to Tracxn.
In addition to Mintifi, Prosus committed $100 million to Vastu Housing Finance, signalling its intent to bolster India’s housing finance sector. While details of this investment are awaited, the funding underscores Prosus’s focus on fostering financial inclusion and innovation in the Indian market.
With these strategic investments, Prosus continues to strengthen its portfolio in India’s burgeoning fintech and financial services landscape, driving growth and innovation in critical sectors.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
