India, Dec. 12 -- Mumbai-based fintech startup Snapmint has raised $18 Mn in its Pre-Series B funding round. The round, which was a mix of debt and equity, was led by Prashasta Seth of Prudent Investment Managers, and also saw participation from new investor Perpetuity Ventures and existing investor Pegasus Fininvest.

Without disclosing the valuation, Snapmint cofounder Nalin Agrawal told Inc42 that the funding was raised almost at 3X the valuation of the last funding round.

The startup plans to utilise the capital to enhance its technology, launch new BNPL products, expand product categories, and onboard new merchants. ". as we are an NBFC, we also need to expand our balance sheet," Agrawal said.

Founded in 2017 by IIT Bombay graduate...