said it had acquired a 10.65% stake in supply chain finance fintech Mintifi earlier in October for approximately $80 million.
“In October 2024, the group acquired a 10.65% effective interest in Mintifi Private Limited for approximately $79.9m. Mintifi is a leading supply chain finance fintech in India. The group will account for this investment as an equity-accounted associate on account of its significant influence on the board of directors,” The company said in a statement.
The financing platform last raised raised $110 million in its Series D funding round led by Premji Invest, with participation from Norwest Venture Partners, Elevation Capital, and International Finance Corporation.
The supply chain financing sector has experienced heightened activity in recent months, marked by strategic acquisitions, funding rounds, and partnerships aimed at expanding market presence and enhancing technological capabilities.
Veefin Solutions, a leader in supply chain finance technology, acquired EpikIndifi, a niche banking software solutions firm, in a cash and equity deal worth Rs 125 crore. This acquisition not only doubled Veefin’s customer base but also integrated advanced underwriting modules to enhance its digital lending suite. Additionally, Veefin acquired GST compliance platform Regime Tax Solutions, further consolidating its position in the working capital technology space.
Meanwhile, Singapore-based VoloFin secured $50 million in funding from a major U.S. bank, structured through a European SPV-issued notes program. This capital infusion underscored increasing investor interest in scalable supply chain financing solutions.
