Minko raises $1.5 million in seed round

Minko, a retail financial platform that provides loan facilities to small Kirana and retail shop owners, has secured $1.5 million in a seed round.

LetsVenture Founder and CEO Shanti Mohan and Kunal Shah, Founder of CRED, participated in the round, which was led by LC Nueva AIF, an India-domiciled Category II AIF Fund with LC Nueva Investment Partners LLP as the Investment Manager.

With their supplier invoices, Minko gives tiny Kirana and retail shop owners in India with an inbuilt credit facility. Minko has signed up 10,000+ merchants and distributors in the previous six months, including Unilever, Parle Agro, Coca-Cola, Haldirams, and Britannia.

The funding round also saw participation from Pratekk Agarwaal (ex-CBO), BharatPe, Nitin Gupta (Uni Cards founder), Parminder Singh (ex-MD Twitter and Google – APAC), Jaimin Bhatt (CFO at Kotak Mahindra Bank), Shyam Mohan (Mastercard VP), Deepthi Rao (Product Manager, Facebook Pay), Archana Priyadarshini (General Partner at PointOne Capital), Kudos Finance and Investments Pvt Ltd (NBFC), Amit Ranjan (ex-SlideShare), and Vivekananda Hallekere (Co-founder, Bounce) and AngelList.

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