Snapmint raises $125 million from GA, others

Mumbai-based fintech startup Snapmint has raised $125 million in a fresh round of funding from US-based private equity major General Atlantic. Elev8 Venture Partners and existing investors Prudent Investment Managers, Kae Capital invested in the round as well.

Founded in 2017, by IIT-Bombay batchmates Nalin Agrawal, Abhineet Sawa and Anil Gelra, Snapmint has raised $140 million since inception.

Speaking with ET, Agrawal said that the company plans to use 50% of the funds raised to capitalise the in-house NBFC and the remaining to scale up business…