Mylapay, a rising leader in the payment infrastructure space, announced today that it has raised $1 million as part of its ongoing capital round. This funding serves as a bridge ahead of the company’s upcoming Series A and marks a significant step in its mission to modernize global payment processing.

The round saw continued support from existing investors CDM Capital and Credit Saison, alongside new participation from GrowthCap Ventures, led by Pratekk Agarwaal, and a network of strategic angel investors.

Global Expansion and Infrastructure Scaling

The fresh capital is earmarked for aggressive growth and technical refinement. Mylapay plans to utilize the funds to:

• Deepen Partnerships: Strengthen ties with major banks and payment aggregators.

• Product Evolution: Scale its existing product suite to meet increasing demand.

• Global Footprint: Support expansion into high-growth markets, specifically across the MEA (Middle East and Africa) and the United States.

Revolutionizing the “Acquiring” Stack

Mylapay recently gained traction with the launch of its unified acquiring platform. Built with a compliance-first approach, the high-speed infrastructure is capable of processing over 5,000 transactions per second. This allows financial institutions to manage the entire lifecycle of card and UPI acquiring—including switching, clearing, settlement, and chargebacks—through a single connection.

Mohanraj Ravi, Founder & CEO of Mylapay, emphasized the shift toward product-led fintech:

“Payment processing can no longer be a black-box ‘service.’ Industry evolution now demands configurable, secure, and product-based solutions. At Mylapay, we’ve productized ‘acquiring-in-a-box’ so acquirers gain full control without compromising on data privacy or performance.”

Bridging Critical Infrastructure Gaps

The investment reflects a growing interest in the “plumbing” of the financial world. Pratekk Agarwaal, Founder & General Partner at GrowthCap Ventures, noted that while India has led payment innovation, the global market is now catching up. “Mylapay is solving one of the most critical infrastructure gaps—helping banks modernize their acquiring stack with reliability and scale,” Agarwaal stated.

About Mylapay

Founded in Chennai, Mylapay provides end-to-end processing for card and UPI payment rails. Its backend stack is certified by major networks including Visa, Mastercard, and RuPay. Prior to this $1 million infusion, the company had successfully raised $550,000 in a seed round.

By: Vanshika Tayal