Paypal Ventures-backed Mintoak acquires Digiledge

Merchant SaaS platform Mintoak has acquired fintech startup Digiledge, specialising in bill payments and Central Bank Digital Currency (CBDC) solutions, for an undisclosed amount.

This acquisition strengthens Mintoak’s mission to help banks and acquirers engage, retain, and monetize merchants. By adding bill payments and CBDC capabilities, Mintoak equips acquirers with advanced solutions to support SMEs in the digital age.

Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, Mintoak offers a suite of SaaS products that help banks and merchant acquirers engage SMEs and drive financial product cross-selling.

The seven-year-old company serves over 1.5 million merchants across major banks like HDFC Bank, SBI, and YES Bank in India and international markets such as Africa and the Middle East.

Digiledge is a fintech innovator delivering enterprise-grade blockchain solutions for financial services. Its advanced bill payments and CBDC stack, adopted by Indian banks, enhance payment infrastructure, digitize financial workflows, and ensure secure transactions. 

Recently, Mintoak raised Rs 71 crore (around $8.2 million) in a secondary funding round led by Z3Partners.

According to the startup data intelligence platform TheKredible, Mintoak registered Rs 72.59 crore in revenue from operations in FY24 against Rs 42.3 crore in FY23. During the period, its losses jumped twofold to Rs 21.45 crore.