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Mylapay, a payment infrastructure startup specializing in end to end processing solutions, has successfully closed a $1 million funding round as part of its ongoing capital raise preceding its Series A round. The investment marks a pivotal moment for the company as it prepares to expand its operations into international markets while strengthening its technological capabilities.
Strategic Investment from Established Backers
The funding round witnessed participation from a distinguished group of investors, including continued support from CDM Capital, led by Managing Partner Davesh Manocha, and Saison Capital, represented by Visa Kannan. The round also attracted fresh capital from GrowthCap Ventures, under the leadership of Founder and General Partner Pratekk Agarwaal, alongside 77 Capital’s Amit Goel. This diverse investor base brings not only financial resources but also strategic expertise in the fintech and payments ecosystem.
Modernizing Payment Acquiring Infrastructure
Mylapay has positioned itself as a solution provider for one of the most critical challenges facing the payments industry today: the need for modern, compliant, and scalable acquiring infrastructure. The company’s platform offers comprehensive backend capabilities, including 3DS authorization, switching, clearing and settlement, reconciliation, and chargeback management. With certifications from major card networks such as Visa, Mastercard, and RuPay, Mylapay ensures its clients meet stringent industry standards.
The startup’s recently launched unified acquiring platform demonstrates significant technical prowess, capable of processing over 5,000 transactions per second. This robust infrastructure enables banks and payment aggregators to manage both card and UPI acquiring operations through a single integration point, dramatically simplifying operational complexity while maintaining high performance standards.
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Strategic Growth Initiatives
The newly acquired capital will be strategically allocated across several key initiatives. Mylapay plans to enhance its core payment processing infrastructure, expand its product portfolio, and cultivate deeper relationships with banking institutions and payment aggregators. Additionally, the company has set its sights on geographical expansion, targeting markets in the Middle East, Africa, and the United States.
Founder and CEO Mohanraj Ravi emphasized the company’s philosophy, noting that modern payment processing requires product based solutions that offer configurability, security, and scalability. This compliance first approach addresses evolving regulatory requirements while providing clients with greater control and operational flexibility.
Industry Impact and Future Outlook
As digital payment volumes continue their upward trajectory globally, infrastructure providers like Mylapay play an increasingly vital role in supporting the ecosystem. The company’s focus on productizing acquiring capabilities with built in compliance mechanisms addresses a significant market gap, particularly as financial institutions seek to modernize legacy systems.
With this funding secured and strong investor backing, Mylapay appears well positioned to capitalize on the growing demand for sophisticated payment infrastructure solutions in both domestic and international markets.
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