Exclusive: Snapmint set to raise $40 Mn led by General Atlantic

Fintech startup Snapmint is set to raise approximately $40 million in a new funding round, which is expected to be led by the global private equity firm, General Atlantic. Snapmint operates in the "Buy Now, Pay Later" (BNPL) space, offering consumers instant credit at the point of purchase, which can be repaid in equated monthly installments (EMIs). This significant capital infusion will be used to enhance the company's technology platform, expand its merchant network, and increase its loan book. The entry of a major investor like General Atlantic signifies strong confidence in Snapmint's business model and the growth potential of the BNPL market in India. The funding will provide Snapmint with the necessary firepower to compete with other players in the increasingly crowded fintech lending space and to scale its operations to reach a wider consumer base across the country.