Mumbai, Oct. 13 -- Consumer lending platform Snapmint is in the process of raising $100 million in a fundraising round led by General Atlantic alongside existing investors including Elev8 Venture Partners and Kae Capital, four people familiar with the matter said.

"The capital is likely to come in two tranches, with General Atlantic being the lead investor pumping in close to $75-80 million," one of them said. "The first tranche will be about $40 million with the remaining infusion [expected] in the subsequent months."

"A bulk of the round will be primary capital that will be used to fund the company's expansion plans, while the balance will include secondary share sales by angel investors, with Kae and Elev8 doubling down on their inve...