Payment infrastructure startup Mylapay raises $1 million in funding

Chennai-based Mylapay, a payment infrastructure startup has raised $1 million as part of its ongoing capital round, ahead of its upcoming Series A funding.

The round saw participation from CDM Capital and Credit Saison, along with new investment from GrowthCap Ventures, led by Pratekk Agarwaal, and a group of strategic angel investors.

The startup will use the funds to improve its payment systems, expand its product offerings, build stronger partnerships with banks and payment providers, and grow its presence in the MEA and US markets.

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“Mylapay has been deliberate in building a compliance-first acquiring infrastructure. We’re pleased to continue supporting the team as they scale the platform” said Davesh Manocha, Managing Partner, CDM Capital.

“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,” said Mohanraj Ravi, Founder & CEO of Mylapay.

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.”

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About Mylapay 

Founded by Mohanraj Ravi, Mylapay develops backend payment processing systems that handle 3DS authorization, switching, clearing and settlement and reconciliation. Its platform is certified by major card networks like Visa, Mastercard, and RuPay.

Recently, Mylapay launched a unified acquiring platform that lets banks and payment institutions manage both card and UPI transactions through a single integration. The platform can process over 5,000 transactions per second and emphasizes modular, compliance-focused payment processing.

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