Mintoak, a leading fintech startup specializing in merchant payment applications, has acquired Digiledge, a company focused on bill payments and CBDC services. The move is part of Mintoak’s broader strategy to enhance its digital payments ecosystem, targeting small businesses and merchants.
The acquisition comes as Mintoak continues to scale its operations, leveraging its ₹200 crore investment fund dedicated to acquiring companies that complement its fintech solutions.
Enhancing Digital Payments for Small Businesses
Mintoak’s software solutions already power HDFC Bank’s Smarthub Vyapar and support QR code-based retail payments for major banks like Axis Bank and the State Bank of India (SBI). With Digiledge’s technology, Mintoak aims to:
- Expand its bill payments services for small enterprises.
- Integrate Central Bank Digital Currency (CBDC) capabilities into its payment platforms.
- Strengthen partnerships with leading banks to offer enhanced fintech solutions.
This acquisition will help partner banks compete more effectively against established players like PhonePe, Paytm, and BharatPe in the digital payment space.
Investor Confidence and Market Positioning
Mintoak’s strong backing from Pravega Ventures, HDFC Bank, and PayPal reflects investor confidence in its ability to scale and innovate. By integrating Digiledge’s expertise, Mintoak is positioning itself as a key player in India’s fintech and digital payments landscape.
CEO’s Vision for Growth
Raman Khanduja, CEO of Mintoak, emphasized that the company is already profitable and intends to expand through strategic acquisitions. He stated that Digiledge’s bill payments and CBDC solutions align perfectly with Mintoak’s goal of providing comprehensive digital tools and financial services to small enterprises.
Our Opinion on the News
Mintoak’s acquisition of Digiledge is a strategic move to expand its footprint in the digital payments sector. By integrating CBDC and bill payment services, Mintoak is enhancing its offerings for small businesses and partner banks, making it well-positioned to compete with industry leaders and drive financial inclusion in India.