Mylapay, a payment infrastructure company, has raised $1 million as part of its ongoing funding round, ahead of its upcoming Series A funding.
The round saw continued participation from CDM Capital and Credit Saison, along with fresh involvement from GrowthCap Ventures, led by Pratekk Agarwaal, and a network of strategic angel investors.
The fresh funds raised will be used to strengthen its payment infrastructure, scale its product suite, deepen partnerships with banks and payment aggregators, and support expansion across the MEA and US markets.
Previously, in January 2024, Mylapay raised $550,000 in a seed funding round led by CDM Capital, with participation from Saison Capital and 77 Capital.
Founded in 2019 by Mohanraj Ravi (CEO), Sundar Balasubramanian (CFO), and Santhanakumar Dhanabalakrishnan (CTO), Mylapay is a payment technology company providing end-to-end processing solutions for card and UPI payment rails through a modern, product-led acquiring infrastructure. Its backend stack includes 3DS authorization, switching, clearing & settlement, reconciliation, and chargebacks, certified by major card networks including Visa, Mastercard, and RuPay, and trusted by leading payment players.
Mylapay recently launched its unified acquiring platform, a high-speed, compliance-led infrastructure designed to process over 5,000 transactions per second, enabling banks and payment aggregators to manage end-to-end card and UPI acquiring through a single connection.
Mohanraj Ravi, Founder & CEO of Mylapay, said, “Payment processing can no longer be a black-box ‘service.’ Regulatory changes and industry evolution now demand product-based solutions—configurable, secure, and built for scale. At Mylapay, we’ve productized acquiring-in-a-box with built-in compliance infrastructure, so payment acquirers gain full control and flexibility without compromising on data privacy, regulatory confidence, or performance. This capital infusion further equips us to accelerate adoption of our next-gen platform.”
Davesh Manocha, Managing Partner, CDM Capital, said, “Mylapay has been deliberate in building a compliance-first acquiring infrastructure. We’re pleased to continue supporting the team as they scale the platform.”
Pratekk Agarwaal, Founder & General Partner, GrowthCap Ventures, said, “India has always led innovation in payments, and the world is now adopting this maturity curve. Mylapay is solving one of the most critical infrastructure gaps—helping banks and payment institutions modernize their acquiring stack with reliability, compliance depth, and scale. At GrowthCap Ventures, we back category-defining fintech infrastructure plays, and Mylapay is strongly positioned to shape the next phase of digital payments globally.”
