Mumbai-based supply chain fintech Mintifi has made waves in FY24 with a phenomenal financial performance, achieving a 273% jump in profit after tax (PAT) to INR 92.5 crore and marking an impressive revenue milestone of INR 384 crore from operations. The remarkable growth underscores Mintifi’s robust position in India’s fintech sector and its innovative approach to transforming supply chain financing.
A Year of Unparalleled Growth
Mintifi’s FY24 figures highlight its successful scaling of operations. With a PAT of INR 92.5 crore compared to INR 24.8 crore in FY23, the fintech firm has witnessed a 3.7x increase in profitability. Its operational revenue soared by 164% from INR 145 crore in FY23 to INR 384 crore, showcasing its ability to capture significant market share in the growing supply chain finance domain.
Driving Factors Behind Mintifi’s Success
Mintifi’s innovative solutions, such as BNPL (Buy Now, Pay Later) for B2B businesses, played a key role in its financial success. By empowering small and medium enterprises (SMEs) with seamless access to working capital, the company has become a trusted partner for over 100,000 distributors and dealers across India.
Key contributors to this success include:
- A focus on digitization and automation, ensuring a seamless customer experience.
- Strategic partnerships with leading brands in industries like FMCG, automotive, and manufacturing.
- A scalable business model that adapts to the unique financing needs of SMEs.
Expanding Horizons
Mintifi has ambitious plans for the future, building on its FY24 success. With a growing clientele and innovative product portfolio, the company is poised to further strengthen its foothold in the B2B fintech ecosystem. Its tailored financing solutions not only enhance cash flow for SMEs but also streamline the entire supply chain financing process.
Why Mintifi’s Story Matters?
Mintifi’s extraordinary growth reflects the potential of the fintech industry in India. With a focus on innovation, financial inclusion, and operational efficiency, the company has emerged as a trailblazer in supply chain financing. Its ability to combine technology with customer-centric solutions positions it as a leader in a rapidly evolving market.
Conclusion
Mintifi’s FY24 performance is a testament to the transformative power of fintech in empowering businesses and driving economic growth. As the company continues to innovate and expand, it stands as a shining example of what is possible when technology meets vision in the financial sector.
Stay tuned as Mintifi continues to redefine supply chain financing in India and beyond!
