Exclusive: Snapmint to raise $37.5 Mn in Series B led by General Atlantic

Buy now pay later startup Snapmint is all set to raise Rs 331.18 crore ($37.5 million) in its Series B round led by General Atlantic with the participation of existing investor Kae Capital and others.

Entrackrexclusively reported in June 2025 that the company was in talks to raise $40 million in a round led by Snapmint.

The board at Snapmint passed a resolution to approve the issue of 12,159 Series B CCPS at an issue price of Rs 2,72,378.63 each to raise the above mentioned amount, according to its filing with the Registrar of Companies (RoC).

General Atlantic will lead the round with an investment of Rs 300 crore ($34 million), while existing investor Kae Capital will participate with Rs 12.2 crore. Five Rivers Investment and Thomas Azavedo will contribute Rs 4.5 crore and Rs 3.5 crore, respectively. The remaining amount will come from other investors, including a group of angels.

Snapmint is likely to raise additional funds in the ongoing round. According to media reports, the company may also see a secondary transaction in Series B.

According to Entrackr’s estimates, Snapmint will be valued at around Rs 1,650 crore or around $187 million post-money. 

Founded in 2017 by Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint enables shoppers to access credit for purchasing mobiles, electronics, home and kitchen appliances, health and wellness products, and more. Its digital platform, Nimbus, provides customised and easy-to-integrate solutions for partner merchants, helping them boost both sales and customer acquisition.

According to startup data intelligence platform TheKredible, Snapmint has raised around $65 million to date, including $18 million in a mix of debt and equity secured in December last year. Following the latest allotment, General Atlantic will hold an 18.8% stake in the company.

For the fiscal year ended March 2025, Mumbai-based Snapmint reported a nearly 80% year-on-year increase in revenue to Rs 158.5 crore and turned profitable with a net profit of Rs 15 crore.