Digiledge (operated by Immergro Technologies), an Amrita TBI incubated startup, has been acquired by Mumbai-based fintech platform Mintoak in a strategic move to expand its service offerings in the digital payments ecosystem.
Mintoak, backed by HDFC Bank, PayPal, and Pravega Ventures, has set up a ₹200 crore acquisition fund to accelerate growth through strategic acquisitions. Digiledge marks the first company to be acquired under this initiative. The acquisition strengthens Mintoak’s product capabilities in bill payments and Central Bank Digital Currency (CBDC) acceptance.
Digiledge has built robust infrastructure for bill payments and CBDC integration. The company has partnered with leading financial institutions including Federal Bank, Karnataka Bank, Indian Bank, and Canara Bank. It has developed solutions that enable merchants to accept digital payments securely and efficiently, without having raised institutional funding.
The company will now function as a wholly owned subsidiary of Mintoak.
The integration of Digiledge’s solutions will enhance Mintoak’s existing merchant platforms, which currently serve over three million merchants and process over ₹30,000 crore in monthly transactions. Mintoak also powers digital payment infrastructure for banks such as HDFC Bank (Smarthub Vyapar), Axis Bank, and State Bank of India.
In addition to expanding within India, Mintoak has extended its footprint to international markets including the UAE, Kuwait, Mauritius, and Tanzania.
The acquisition of Digiledge aligns with Mintoak’s objective to future-proof merchant ecosystems by embedding next-generation digital currency capabilities and strengthening its offering in the bill payment space.
Digiledge was incubated at Amrita TBI, where it received early-stage support, mentorship, and access to resources instrumental in product development and strategic partnerships. The acquisition reflects the strength of the startup’s vision and execution, as well as the value of targeted incubation in driving deep-tech innovation.
“ Amrita TBI has played a pivotal role in the trajectory of the growth of Digiledge since 2017. The incubation provided a professional environment that enabled us to refine our technology, promoting potential growth. Apart from Amrita TBI's unavoidable aids, we value the mentoring help that made scale-up possible.
We are fortunate to receive Amrita TBI's EIR (Entrepreneur in Residence) fund as a significant asset. We are indeed grateful for the invaluable support extended by Amrita TBI to date. "