Mumbai, January 28, 2022: Mumbai Angels, a premium platform for early-stage investments, has invested in Minko, a Fintech startup offering credit to retail shops, along with LetsVenture, and Kunal Shah, Founder of CRED, in a seed funding round led by LC Nueva. Minko will utilize the funding to strengthen its team by hiring talent for its technology and sales verticals and expanding its footprint across India. |
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Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “We see a growing need for instant and seamless credit facilities, especially for retailers. We believe our portfolio company Minko is a game changer making access to digital credit a simple and efficient process.” |
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“We are thrilled to be backed by eminent investors in our journey to enable retailers to access low-cost instant credit through a simple process. Especially for offline retailers, there is a large gap in the credit system, and easy access to a digital credit line would be immensely beneficial. We are now looking to augment our offerings further and for this, team strength, talent, and reach are necessary. We will continue to enhance our products and expand our presence in new markets in the country,” added Sanket Shendure, Co-Founder of Minko. |
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About Mumbai Angels
Started in 2006, Mumbai Angel is India’s premier platform focused on new venture investing. Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 650+ investors spread across 60+ cities across the globe. |
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About Minko
Founded by Sanket Shendure and Sanmati Shendure, Minko began product development in January 2021 and has achieved a remarkable growth trajectory. Besides its flagship product Minko Credit, the company has also added three new products in six months – Minko Invoices, Minko QR Code, and Minko Gold. Currently present in Goa, Maharashtra, and Bihar, Minko aims to expand to other states this year and onboard 100,000 retailers and distributors onto its platform. |
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