Snapmint raises $125 million in Series B funding led by General Atlantic
31 Oct 2025, 01:43 PMThe funding round saw participation from Prudent Investment Managers, Kae Capital, Elev8 Venture Partners, and existing angel investors.
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Buy now pay later (BNPL) startup Snapmint has raised $125 million in its Series B funding round led by General Atlantic.
The funding round saw participation from Prudent Investment Managers, Kae Capital, Elev8 Venture Partners, and existing angel investors.
The Mumbai-based startup will use the fresh capital to expand its EMI-on-UPI offering and grow its merchant network. The company aims to scale its presence and reach more than 100 million consumers over the next few years.
Snapmint, which was founded by Nalin Agrawal, Anil Gelra, and Abhineet Sawa in 2017, enables consumers to pay through EMIs on UPI without requiring a credit card. It offers installment-based payments across categories including electronics, travel, fashion, home, and lifestyle products. Snapmint currently serves 7 million monthly active users across 23,000 pincodes in India and funds over 1.5 million purchases per month. The platform helps merchants increase conversions by offering flexible EMI plans at checkout.
Snapmint has raised around $140 million to date, including $18 million in a mix of debt and equity secured in December last year.
The startup competes with BNPL and EMI-focused players such as ZestMoney, LazyPay, Axio, Simpl, PayU PayLater, ICICI PayLater, and CRED in the consumer credit and checkout financing space.
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