Mintifi, a supply chain financing platform, has announced a Series E related fundraise of $180million, co-led by Teachers’ Venture Growth (TVG) and Prosus, along with participation from existing investor Premji Invest. 

TVG is the late-stage venture and growth equity investments arm of Ontario Teachers’ Pension Plan (Ontario Teachers’).

As part of investment, Darius Vakil, Director, TVG, India, who leads late-stage venture and growth investments and Apoorve Goyal, Managing Director, Prosus, India will join the Board of Mintifi.

 Earlier Mintifi had raised capital from marque global investors including Elevation Capital, Norwest Venture Partners, IFC and Lok Capital.

Anup Agarwal, Co-founder, CEO, Mintifi said, “We are super excited to partner with Ontario Teachers’ and Prosus, two leading global investors, in our journey of building the largest supply chain financing company in India. This transaction is also an important milestone for us as we were able to successfully provide an exit to our early backers with approximately 11x return as well as provide an opportunity for a large number of our team members to liquidate their ESOPs”.

With this round, Mintifi’s overall capital base of equity and debt will cross over $1 billion and will help the company to further deepen its engagement with its brand partners and serve the long tail of the distribution network across India.

The financing is a combination of primary and secondary transaction. This fresh funding will deepen Mintifi’s presence across key sectors and consolidate its market leadership in the downstream supply chain financing space. 

 The company will utilise the funds to expand on its new offerings, including dealer management systems, loans against property, domestic/ overseas factoring and leveraging AI to build best-in-class experiences for corporate clients and their supply chain partners.

Mintifi has been growing exponentially over the years, processing over $3 billion invoices annually which is expected to cross $6 billion by the end of FY26. 

Deepak Dara, Senior Managing Director and Head of India for Ontario Teachers’ said, “Our investment in Mintifi reflects TVG’s strategy of identifying high-growth, tech-first companies led by strong management teams. Mintifi’s distinctive model of providing invoice-backed credit directly to brands, reinforced by robust risk guardrails and a proprietary tech stack, positions it as a leader in India’s supply chain finance landscape. We are excited to partner with Anup, Sanjoy and Ankit to support Mintifi’s growth and drive long-term value creation in this scalable and underpenetrated segment across the region.”