Online lending startup Mintifi Secures $2mn from Lok Capital

Online lending startup Mintifi has raised $2 million (Rs 13 crore) in a seed round from impact investment firm Lok Capital, a person privy to the development has said.

According to the filing with Registrar of Companies (RoC), the Mumbai-based startup had concluded the deal a few months ago

Operated by Rolling Circle Pvt. Ltd, Mintifi was founded by Anup Agarwal, who previously worked at financial services firm Jefferies India.

Started last year, Mintifi provides loans and other lending facilities to small and medium businesses (SMBs) through its online platform. It uses a data-driven process to assess a customer’s creditworthiness.

Mintifi typically offers working capital loans in the range of Rs 1 lakh to Rs 25 lakh apart from bill discounting and expansion capital loans. It joins a growing number of digital lending startups to raise funding.