Mylapay Raises $1Mn to Power Next-Gen Payment Infrastructure

Payment infrastructure start-up Mylapay on Thursday said it has raised $1 million in fresh funding as part of an ongoing financing round, as the company looks to scale its unified acquiring platform and expand into the Middle East & Africa (MEA) and the United States.

The round saw follow-on participation from existing investors CDM Capital and Credit Saison, along with new backing from GrowthCap Ventures, led by Pratekk Agarwaal, and a group of strategic angel investors. The latest infusion follows a $550,000 seed round and comes ahead of a planned Series A raise, the company said.

Fund Utilisation

Mylapay said the capital will be used to strengthen its core payment infrastructure, deepen integrations with banks and payment aggregators, expand compliance and product features, and support go-to-market efforts in MEA and the US. The company offers a unified acquiring stack designed to handle over 5,000 transactions per second, covering the full acquiring lifecycle, including 3D Secure authorisation, switching, clearing and settlement, reconciliation and chargeback management, through a single integration.

“Payment processing can no longer be a black-box service,” founder and chief executive Mohanraj Ravi said. “Regulatory changes and industry evolution demand product-based solutions that are configurable, secure and built for scale. We have productised acquiring-in-a-box with built-in compliance infrastructure so acquirers retain control without compromising on data privacy, regulatory confidence or performance.”

Investors Endorsement

Investors said the funding reflects rising demand for modern, compliance-first payment infrastructure as regulators tighten oversight globally and cross-border transaction volumes grow. CDM Capital managing partner Davesh Manocha said Mylapay has taken a deliberate approach in building an acquiring stack with regulatory depth. GrowthCap Ventures’ Pratekk Agarwaal said the platform addresses a critical need for banks and payment institutions seeking to modernise legacy acquiring systems while maintaining compliance and operational resilience.

Mylapay said its backend infrastructure is certified by major card networks including Visa, Mastercard and RuPay, and is already being used by multiple payment players. The company positions these certifications and its compliance tooling as key differentiators, particularly when engaging regulated customers such as banks, aggregators and large merchants in new geographies.

Timing of Investment

The expansion comes at a time when acquirers are increasingly seeking configurable, auditable infrastructure that reduces integration complexity and shortens time-to-market. By packaging core acquiring functions with embedded compliance controls, Mylapay aims to simplify international expansion for payment institutions operating across multiple regulatory regimes.

The company said the $1 million infusion forms part of a larger capital plan that will culminate in a Series A round. Near-term priorities include additional network certifications, deeper bank partnerships and further hardening of the platform for high-throughput use cases. Mylapay did not disclose its valuation or revenue figures.