Fintech Startup Snapmint
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Fintech Startup Snapmint Raises $9 Million in Series A Round

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Snapmint, a fintech startup, has secured $9 million in a Series A round-headed by Prudent Investment Managers Prashasta Seth, CEO and CIO.

The investment round included angel investors such as 9 Unicorns, Anicut Capital, Negen Capital, Usama Fayyad, Livspace creator Ramakant Sharma, Chairman of Open Insights, and others.

The money will be used to develop the startup’s network of merchants, introduce a suite of revolutionary BNPL products, and power the purchases of over 450 million Indian customers, according to the company.

“We’re looking forward to partnering with well-known investors and industry experts as we continue to expand.” This investment will help us accelerate our growth goals as we aim to increase our merchant partners 50X across India and provide our consumers with a one-of-a-kind shopping experience. Our transaction-driven underwriting processes enable us to democratize loan access, provide fair financial conditions, and provide our customers the freedom of choice.” Snapmint Co-Founder Nalin Agrawal stated.

Snapmint is a BNPL (Buy Now Pay Later) platform that gives alternatives by democratizing access to finance, launched in 2017 by IIT Bombay grads Rahul Agarwal, Nalin Agarwal, Anil Gelra, and Abhineet Sawa.

“We are really impressed with the team’s ability to quickly and effortlessly underwrite young consumers from Tier II/small towns, as seen by the portfolio quality.” This sets them apart from the great majority of other participants in the market. Prashasta Seth, CEO and CIO of Prudent Investment Managers, adds, “We are happy to work with Snapmint on this growth path and look forward to fueling the next revolution in digital payments and purchase finance.”

Snapmint allows users to purchase on installments without using credit cards, allowing them to spend more money. Using our quick 5-minute Online method, customers may purchase mobile phones, electronics, appliances, and a variety of other things. The majority of Snapmint’s items are offered with no-cost EMIs for 3-month plans.