General Atlantic to lead Snapmint round

Consumer lending platform Snapmint is in the process of raising $100 million in a fundraising round led by General Atlantic alongside existing investors including Elev8 Venture Partners and Kae Capital, four people familiar with the matter said.

- Priyamvada C & Mansi Verma

Snapmint is seeking to raise $100 million, according to people familiar with the development.

(Istockphoto)

"The capital is likely to come in two tranches, with General Atlantic being the lead investor pumping in close to $75-80 million," one of them said. "The first tranche will be about $40 million with the remaining infusion [expected] in the subsequent months."