Snapmint has raised $18 million in a mix of debt and equity funding, while FirstClub Technology and FinX have secured seed funding.
Snapmint raises $18m funding
Snapmint, a no-cost EMI platform, has raised $18 million in a mix of debt and equity funding round led by Prashasta Seth (Prudent Investment Managers), with participation from Perpetuity Ventures and Pegasus Fininvest.
With the fresh infusion, Snapmint aims to invest in integration with more shopping portals, grow its merchant network, and expand its balance sheet, it said in a statement.
Founded in 2017 by IIT Bombay graduates Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint is on a mission to democratise no-cost EMI for online shopping in India by eliminating barriers to accessible and affordable purchasing across categories.
The platform boasts over 5 million monthly active users on its platform. Its EMI shopping app claims to have achieved over 35 million downloads and enables access to no-cost EMI across more than 26,000 pin codes nationwide. It lending partners include Vivriti, MAS, Northern Arc, ICICI Bank, and AU Small Finance Bank , among others.
Accel, RTP lead $8m funding in FirstClub
FirstClub Technology, a member-only retail platform, has raised $8 million in a seed funding round led by Accel and RTP Global, the company announced on Thursday.
The funding round also saw participation from Blume Founders Fund, Quiet Capital, 2am VC and prominent angel investors including Binny Bansal (Flipkart), Kunal Shah (CRED), Mukesh Bansal (Myntra, Cult), Lalit Keshre (Groww), Ankit Nagori (Eatfit), and Shrenik Ghodawat (Sanjay Ghodawat Group), the startup said in a statement.
The funds will be utilised to build its technology infrastructure, refine an omnichannel retail strategy, onboard talent across critical functions, and expand the platform’s product offerings. The full platform, which is set to go live by mid-2025, will initially offer a curated selection of mass-premium products across categories such as food, FMCG, bakery, dairy, and health.
Elevar Equity backs FinX
Integrated skilling platform FinX on Thursday announced that it has secured $6 million in seed funding from Elevar Equity. The funding proceeds will be used for geographical expansion, broaden its product offering, and diversify into IT skill training, among others.
Founded in 2019, FinX offers vocational courses in the banking, financial services, and insurance (BFSI) domain to help students become job-ready.
The Mumbai-based boasts of a team of 80 associates and a network of more than 1,000 freelance trainers spread across 100 Indian cities. The platform claims to have trained more than 40,000 students to date through partnerships with over 300 colleges across 12 states.
