Former Paytm CFO Vikas Garg’s new startup Kredmint has raised $2 million as part of its first round of funding, according to ETtech report.
The round was led by startup entrepreneurs and angel investors, including Cred founder Kunal Shah, BharatPe cofounder Ashneer Grover, Junio cofounder Shankar Nath, Nearbuy founder Ankur Warikoo, and Yatra cofounder Manish Amin.
Garg had quit Paytm in January to work on his latest venture. Other cofounders in the startup include Rahul Nagar, former vice president of business at Paytm, and Himanshu Arora, former principal product manager at Gaana. Arora has also worked across the technology and product functions at Paytm, the report said.
Founded in June 2022, Kredmint is a technology platform for businesses. It provides a scalable order management system to help businesses get better visibility and control over their supply chain. Kredmint’s technology platform also allows businesses to launch unique services such as loyalty and discounts on its platform for their retailer and distributor networks.
“During our experience at Paytm, we realised that several merchants wanted quick and instant settlement. Most fintechs in the market are currently solving this problem for their own merchant base and payment pipes,” said Garg.
“Through Kredmint, we wanted to solve the problem for the larger B2B ecosystem. As opposed to other fintechs, we are a tech-first platform play, rather than building a credit-first model.”
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