India’s buy-now-pay-later market is about to get a major jolt. Snapmint, the fast-growing startup that lets you buy what you want now and pay later via UPI without a credit card, has just raised a staggering $125 million in its Series B funding round led by global investor General Atlantic. The move is set to shake up digital payments and transform the way millions of Indians shop online.
The fresh capital will power Snapmint’s expansion, boosting its EMI-on-UPI offerings and growing its merchant network across the country. Out of the total raise, $115 million is primary funding for growth, while the rest provides early investors with a lucrative exit. The company has not disclosed its valuation—but insiders suggest it’s a game-changer for the BNPL sector.
Founded in 2017 by Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint has become a major player in India’s fintech scene. With 7 million monthly active users across 23,000 pincodes and more than 1.5 million purchases funded each month, the startup is redefining how Indians shop. From electronics and fashion to travel and lifestyle, Snapmint’s flexible EMIs make it possible to buy almost anything without a credit card.
“Snapmint is giving power back to the consumer,” said co-founder Nalin Agrawal. “This round will help us scale faster, bring more merchants on board, and make digital shopping seamless and accessible for millions.”
Snapmint is taking on major competitors like ZestMoney, LazyPay, Simpl, PayU PayLater, ICICI PayLater, and CRED—but its unique EMI-on-UPI model gives it a clear edge. No credit card? No problem. Snapmint is bringing digital credit to the masses in a way that no one else has managed yet.
For merchants, Snapmint is more than just a payment platform. Offering flexible installment plans at checkout boosts sales, increases conversions, and keeps customers coming back. And with over 1.5 million transactions funded monthly, the startup is already leaving its mark on India’s e-commerce landscape.
Experts believe this $125 million round could catapult Snapmint to the top of India’s fintech ecosystem. The company plans to invest heavily in AI-driven risk assessment and fraud prevention, ensuring smarter, safer lending for millions of consumers.
This funding milestone signals the start of a new era in Indian digital payments. Instant, flexible, and credit-card-free shopping is no longer a luxury—it’s becoming the standard. And Snapmint is leading the charge.
If you thought online shopping in India was convenient before, think again. With Snapmint’s latest expansion, you may never look at your wallet the same way again.
