Payment infra startup Mylapay raises $1 Mn

Chennai-based payment infrastructure startup Mylapay has raised $1 million as part of an ongoing funding round, ahead of its planned Series A raise.

The round saw continued backing from CDM Capital and Credit Saison, along with new participation from GrowthCap Ventures, led by Pratekk Agarwaal, and a group of strategic angel investors.

Prior to this round, the startup had raised $550,000 in seed funding. With the latest capital infusion, Mylapay is preparing to scale adoption of its acquiring platform and move closer to a full Series A fundraise later this year.

The proceeds will be used to strengthen Mylapay’s core payment infrastructure, expand its product stack, deepen integrations with banks and payment aggregators, and support international expansion across the Middle East, Africa, and the US.

Founded by Mohanraj Ravi, Mylapay builds backend payment processing systems covering 3DS authorisation, switching, clearing and settlement, and reconciliation. Its platform is certified by major card networks including Visa, Mastercard, and RuPay.

Mylapay recently rolled out a unified acquiring platform that allows banks and payment institutions to manage card and UPI acquiring through a single integration. The platform is designed to handle more than 5,000 transactions per second and focuses on compliance-led, modular payment processing.