Chennai-based payment infrastructure startup Mylapay has raised $1 million in a bridge funding round to deepen its technology, broaden product offerings and prepare for a larger Series A later this year as it targets international expansion.
Funding round and investors
The $1 million round included participation from existing investors CDM Capital and Credit Saison, both of whom increased their commitments, alongside new investor GrowthCap Ventures, led by Pratekk Agarwaal, and a cohort of strategic angel backers. The capital follows an earlier $550,000 seed round that helped the company build its core payment stack and acquire initial enterprise customers.
Product focus and capabilities
Mylapay specialises in end-to-end payment infrastructure for banks, fintech firms and regulated payment institutions. Its unified acquiring and payment-processing platform covers the full transaction lifecycle — from secure authentication (including 3D Secure) to switching, clearing, settlement, reconciliation and chargeback handling — aiming to reduce operational complexity for enterprise customers.
The company states its platform can handle more than 5,000 transactions per second and holds certifications from major card networks such as Visa, Mastercard and RuPay, signalling compliance with international security and network standards.
Use of proceeds and expansion plans
Mylapay plans to deploy the fresh funds to strengthen its core payment architecture, develop new enterprise-grade product modules and expand partnerships with banks and regulated payment providers. A significant portion of the round will support geographic expansion, with early focus on markets in the Middle East, Africa and the United States where demand for modern, compliant payment infrastructure is rising.
Market positioning and outlook
Founded in 2019, Mylapay operates in a competitive fintech landscape that includes legacy processors and agile startups. The company’s modular, compliance-first approach is designed to appeal to institutions seeking to replace outdated systems with scalable alternatives. With the bridge financing secured and investor backing renewed, Mylapay is preparing for a Series A while aiming to position itself as a backend enabler for high-volume digital payments in India and abroad.
