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Mumbai, 31 October 2025 – Snapmint, one of India’s fastest growing EMI payments platforms (or “the Company”), today announced a new round of funding led by General Atlantic, a leading global investor. The round also saw participation from Prudent Investment Managers, Kae Capital, Elev8 Venture Partners and other existing angel investors. With this new capital, the Company plans to grow its Equated Monthly Instalments (“EMI”) on UPI offering and expand its merchant network. Financial terms of the investment were not disclosed.

Snapmint was founded in 2017 by Nalin Agrawal, Anil Gelra and Abhineet Sawa to bring honest and transparent EMI offerings to mass affluent consumers of India without the need of a credit card. Beyond the conventional categories of electronics, home and travel, Snapmint shoppers also use its EMI-on-UPI offering for fashion, furnishing and other lifestyle purchases. The Company today serves more than 7 million monthly active users across 23,000 pincodes in India and finances more than 1.5 million purchases every month

Nalin Agrawal, Co-founder of Snapmint, said: “We believe India will leapfrog credit cards and go straight to EMI on UPI. We have pioneered EMI on UPI since 2020 and have enabled brands to increase their sales by 10 to 20% with our offering. With this new funding, we are excited to have General Atlantic join our journey to bring EMI payment solutions to more than 100 million consumers in the next few years.”

Shantanu Rastogi, Managing Director and Head of India at General Atlantic, said: “Snapmint has built one of India’s largest EMI-on-UPI platforms, through its strong value proposition of affordability for consumers, and increased sales for merchants. We are excited to partner with Snapmint as it continues to scale its EMI payments platform and expand its network of merchants and customers.”

Prashasta Seth, Managing Partner of Prudent Investment Managers, said: “We are proud to have partnered with Snapmint since 2020 when they first started to build their EMI-on-UPI platform. Over the years, Snapmint has established market leadership and the founders have shown a steadfast commitment to building a sustainable and customer-centric business. As we deepen our partnership, we know that this is just the beginning of an exciting growth journey, and the best is yet to come.”

Radix Capital Advisors, led by Abhishek Taparia, has been Snapmint’s exclusive investment banking advisor since 2019.

About Snapmint
Snapmint is a Mumbai-based EMI payments company that provides seamless EMI payments on UPI without the need of a credit card. Founded in 2017 by IIT Bombay alumni – Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint is on a mission to provide fair and transparent EMI options to young mass affluent consumers of India. The company has offices in Mumbai, Bangalore, Delhi NCR and Jaipur.

About General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $114 billion in assets under management, inclusive of all strategies, as of June 30, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

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