Mumbai-based Merchant SaaS platform Mintoak is making strategic moves to expand its fintech offerings. The company has secured Rs 80 crore in debt from BlackSoil to facilitate the acquisition of Dubai-based customer loyalty management platform, Innovative Consumer Concepts (ICC Loyalty). This acquisition marks Mintoak’s second in the past year, demonstrating its commitment to growth and diversification.
Mintoak’s recent board resolution approves the issuance of up to 1,600 Non-Convertible Debentures (NCDs) to raise the necessary funds. ICC Loyalty, a fintech platform by ICC Fintech, specializes in digital loyalty and rewards solutions for brands and financial institutions, enhancing customer engagement and retention through innovative programs.
Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, Mintoak offers a suite of SaaS products that enable banks and merchant acquirers to better serve SME customers and promote financial product cross-selling. The company’s financial performance has been robust, with operating revenue increasing by 27.9% year-on-year in FY25, reaching Rs 92.85 crore.
This acquisition follows Mintoak’s earlier purchase of fintech startup Digiledge, underscoring its strategic focus on expanding its offerings and market presence. By integrating ICC Loyalty’s capabilities, Mintoak aims to strengthen its position in the competitive fintech landscape and deliver enhanced value to its clients and partners.
Source: Entrackr : Latest Posts