Mumbai-based fintech firm Mintifi saw a 273% rise in net profit for FY 2023-24, reaching 92.53 crore rupees (around US$11.1 million) from 24.79 crore rupees (around US$2.9 million) the previous year, driven by a surge in revenue and improved margins.

Revenue from operations increased 72% to 383.67 crore rupees (around US$46.4 million), with interest income from loans representing 80% of the total operational revenue, rising by 108% to 308.66 crore rupees (around US$37.4 million).

Founded in 2017, Mintifi offers supply-chain financing solutions to SMEs and partners with clients like Tata Motors, Nivea, and Page Industries.

In November 2024, Mintifi raised US$180 million in a Series E round co-led by Teachers’ Venture Growth and Prosus.