Sri Lanka’s first “Buy Now, Pay Later”, Mintpay closes LKR 51.5 Mn in Seed Funding

The Sri Lankan Buy Now, Pay Later start up, Mintpay, that emerged in the latter stage of 2020 has been steadily gaining momentum island wide as more and more consumers have begun integrating the Mintpay platform into their own financial routine when shopping online.

The secured funds will be utilised to further improve the technology, roll out new products and hire talent. At present, there are over 160+ leading merchants active on the platform, and products ranging from fashion, health & fitness, beauty products, jewellery to pet care are now available for Mintpay members.

Over the past 17 months, Mintpay has consistently been able to drive immense value to the overall revenue of its merchant partners and unprecedented payment flexibility to its B2C user base, with the recently concluded seed funding round being a testament to the potential for further growth in Sri Lanka.

“The general consensus is that Sri Lanka is a laggard with regards to the adoption of new technologies. However, we were determined to prove that this is far from true, and that Sri Lanka is a place where new and novel technologies can be built and taken to the regional, and global stage”, affirms co-founder of Mintpay, Urmila Chandrasekaran.