Mumbai-based fintech startup SnapMint on Tuesday said it raised $9 million in its Series A round led by Prashasta Seth, CEO and CIO of Prudent Investment Managers.
The round also saw the participation of 9 Unicorns, Anicut Capital, Negen Capital, Livspace founder Ramakant Sharma, Usama Fayyad - Chairman of Open Insights and Head of Institute for Experiential AI at Northeastern University, among other angel investors.
The startup has over four million consumers on its platform, many of who are from Tier II/smaller towns, and serves over 27,000 pin codes across India. Not only does Snapmint let retail consumers buy with instant credit and realise savings, but it also helps merchants tap into a significantly larger customer base and get a greater bang for the buck on marketing spends.