Fintech startup, Snapmint raised $9 million in Series A led by Prashasta Seth, CEO and CIO of Prudent Investment where other angel investors 9 Unicorns, Anicut Capital, Negen Capital, Ramakant Sharma–founder of Livspace, Usama Fayyad- chairman of Open Insights and head of Institute for Experiential AI at North-eastern University also participated.

Snapmint is a BNPL (Buy Now Pay Later) platform that democratises credit access. It enables instalment purchases without the use of credit cards. According to the startup, its platform facilitates the purchase of mobile phones, electronics, and other products through a simple online process. It also allows users to choose its products and EMI plans in a paperless and hassle-free environment. With this capital infusion, the fintech startup intends to expand its merchant network, launch a suite of innovative BNPL products, and power the purchases of over 450 million Indian consumers.

Executive Opinion

“We are excited to partner with marquee investors and industry leaders in our growth journey. This investment will boost our expansion plans as we look to grow our merchant partners 50X pan-India and bring a unique shopping experience to our customers,” said Nalin Agrawal, cofounder of Snapmint. 

“Our transaction-led underwriting models allow us to democratize access to credit, provide fair financial terms and give the freedom of choice to our consumers,” Nalin Agarwal added.