Indian fintech startup Mylapay has raised $1 million in pre-Series A funding as it prepares for an upcoming Series A round. The Chennai-headquartered company is leveraging the investment to expand its compliance-first acquiring payment platform across the Middle East, Africa, and the United States. The funding reflects growing investor confidence in Mylapay’s regulatory-focused approach to payment infrastructure.
Strengthening Compliance-First Acquiring Infrastructure
Mylapay specializes in building backend payment systems that support secure transaction authentication, routing, settlement, and reconciliation. Its platform is designed for banks and payment institutions that require high-throughput processing alongside strict regulatory and data privacy standards. By embedding compliance controls into its product layer, Mylapay allows clients to maintain performance without compromising regulatory confidence.
Investment Backing and Strategic Support
The pre-Series A round was supported by existing investors CDM Capital and Credit Saison, alongside new investor GrowthCap Ventures led by Pratekk Agarwaal, as well as a group of angel investors. Davesh Manocha, Managing Partner at CDM Capital, emphasized the firm’s continued support as Mylapay scales its infrastructure globally. Investors view the company as addressing a critical need for transparent, configurable, and reliable acquiring platforms in an evolving payments industry.
Expanding Product Portfolio and Geographic Reach
Mylapay plans to use the new capital to enhance its payment infrastructure, expand its product offerings, and strengthen integrations with banks and payment partners. The company is accelerating its international expansion with a strategic focus on MEA and US markets. This approach aims to position Mylapay as a global player in next-generation payments infrastructure.
Unified Platform for Cards and UPI
Recently, Mylapay launched a unified acquiring system that enables banks and payment institutions to process both card and UPI transactions through a single integration. By consolidating multiple payment rails, the platform simplifies operations, reduces integration time, and improves scalability for clients. Its modular design supports customization according to regulatory and operational requirements, offering flexibility to financial institutions.
Enterprise-Grade Capabilities and Certification
The platform is capable of handling more than 5,000 transactions per second, reflecting enterprise-grade performance. Mylapay is certified by major card networks including Visa, Mastercard, and RuPay, reinforcing its credibility in high-volume processing. This positions the company to offer a robust and compliant solution for banks and payment providers worldwide.
Investor Perspective on Global Fintech Infrastructure
GrowthCap Ventures sees the investment as part of a larger trend of Indian fintech innovation being adopted globally. Founder Pratekk Agarwaal highlighted that Mylapay addresses gaps in acquiring infrastructure by combining reliability, scale, and deep compliance integration. The company’s technology is expected to play a significant role in modernizing digital payment systems internationally.
Mylapay’s latest funding marks a strategic milestone in its mission to provide compliance-first acquiring infrastructure for global markets. The company’s unified platform and regulatory-focused approach differentiate it in an increasingly complex payments ecosystem. With expansion underway across MEA and the US, Mylapay is set to strengthen its position as a key enabler of modern, transparent payment processing.