Strong investor interest has come from India-based ‘buy now, pay later’ company Snapmint, which has raised about US$125 million in its Series B round headed by global growth investor General Atlantic. According to corporate disclosures, this injection comprises main capital and a second component enabling some early angel participants an exit strategy.
With the new money, Snapmint business
Currently assisting finance for more than 1.5 million monthly purchases and catering to roughly seven million monthly active users across more than 23,000 Indian postal codes, the startup supports finance. Following the most recent capital expenditure, the ownership of General Atlantic in the company is expected to be somewhere around 18.8%. As the industry heats up, Snapmint competes with other checkout-financing and BNPL companies like ZestMoney LazyPay
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Looking forward, the business hopes to significantly grow its user base, aiming to reach well beyond 100 million customers in the next several years. Snapmint’s most recent round emphasizes that investors are wagering heavily on India’s consumer finance sector, which is quickly changing, and digital-first payment methods are gaining ground. Flexible payment options targeted at younger and underappreciated customer segments. The next stage will examine how successfully the business can grow sustainably while still maintaining credit, merchant relations and discipline in a fiercely contested area.
