New Delhi, Oct. 31 -- Consumer lending platform Snapmint has raised $125 million in a new funding round led by General Atlantic, with participation from Prudent Investment Managers, Kae Capital, Elev8 Venture Partners, and existing angel investors, the company said in a statement.

Mint was the first to report on 13 October that Snapmint was in talks to raise around $100 million in a multi-tranche funding.

The company's founder Nalin Agarwal on Friday said the funding round would comprise $115 million in primary capital and the rest in secondary, which would provide exits to a few early-stage angel investors.

He also said the transaction will close over the next two to three months. "The capital will be used to expand our merchant base,...