Newsletter
Snapmint, a buy now, pay later startup, has raised $125 million in Series B funding led by General Atlantic & existing angels.
Snapmint lets users shop and pay in EMIs without a credit card, serving 7 million monthly users across 23,000 pincodes and funding 1.5 million purchases a month.
The company plans to use the funds to expand its EMI-on-UPI product and grow its merchant network.
The deets: of the total, $115 million came as primary capital, while the rest was a secondary transaction giving early investors an exit.
Post-fundraise, General Atlantic now holds an 18.8% stake in the company.
Why it matters: the company has turned profitable with ₹15 crore in FY25, growing revenue 80% YoY to ₹158.5 crore.
With this fresh capital, Snapmint aims to reach 100 million consumers and deepen its presence in the fast-growing EMI-on-UPI market, where it competes with CRED, Simpl, ZestMoney, and LazyPay.
