Mylapay, a -based fintech that develops payment infrastructure has raised $1 million as part of a capital round, ahead of its upcoming Series A funding.
The round saw continued participation from CDM Capital and Credit Saison, along with fresh participation from GrowthCap Ventures.
L-R: Mohanraj Ravi Founder, CEO; Santhanakumar Dhanabalakrishnan. Co-founder, CTO; Sundar Balasubramanian Co-founder, CFO
The capital will be used to strengthen Mylapay’s payment infrastructure, scale its product suite, deepen partnerships with banks and payment aggregators, and support expansion across the MEA and US markets.
“Regulatory changes and industry evolution now demand product-based solutions. At Mylapay, we have productised acquiring-in-a-box with built-in compliance infrastructure, so payment acquirers gain full control and flexibility without compromising on data privacy, regulatory confidence, or performance. This capital infusion further equips us to accelerate adoption of our next-gen platform,” said Mohanraj Ravi, Founder & CEO of Mylapay.
“Mylapay has been deliberate in building a compliance-first acquiring infrastructure. We’re pleased to continue supporting the team as they scale the platform” said Davesh Manocha, Managing Partner, CDM Capit