Mintifi, a business-to-business (B2B) supply chain finance platform, has raised $180 million in a Series E round led by Teachers' Venture Growth (TVG), Prosus, and Premji Invest, the company's current investor.

A mix of primary and secondary transactions make up the funding. The funds will be utilized to improve the business's position in the supply chain financing industry.

Apoorve Goyal, managing director of Prosus India, and Darius Vakil, director of TVG India, will join Mintifi's board as part of the recent investment.

The company plans to expand its product offerings, including dealer management systems and real estate-secured loans, and invest in artificial intelligence to improve the experience for corporate clients and their supply chain partners.

Investors such as International Finance Corporation (IFC), Elevation Capital, Norwest Venture Partners, and Premji Invest contributed $110 million to Mintifi's Series D fundraising round in March 2023.

The CEO and co-founder of Mintifi, Anup Agarwal, said, "This deal is also an important milestone for us as we were able to successfully provide an exit to our early backers with approximately 11x returns and provide an opportunity for a large number of our team members to liquidate their ESOPs."

To digitize B2B payments, inventory finance, and credit management, the company collaborates with more than 300 Indian brands, such as Asian Paints, Varun Beverages, Parle Products, Honda, and Shree Cement.

According to a statement from the company, it handles more than $3 billion in invoices a year, with that amount predicted to surpass $6 billion by the end of the fiscal year 2026 (FY26).

The company has, for example, tapped into huge business ecosystems with sizable distributor and retailer networks. Working with big conglomerates helps the business overcome supply chain financing credit issues and have access to their distributor networks.

Additionally, it facilitates the onboarding of clients who might not normally be eligible for a bank's supply chain finance (SCF) product.