Mylapay raises $1m to scale compliance first payments infrastructure

By Vriti Gothi

Chennai-based payment infrastructure firm Mylapay has raised $1 million as part of an ongoing funding round ahead of its planned Series A, as it looks to expand its acquiring technology across domestic and international markets.

The round saw continued backing from existing investors CDM Capital and Credit Saison, alongside new participation from GrowthCap Ventures and a group of strategic angel investors. GrowthCap Ventures is led by founder and general partner Pratekk Agarwaal.

Mylapay said the capital will be deployed to strengthen its core payment infrastructure, scale its product portfolio, deepen integrations with banks and payment aggregators, and support market expansion across the Middle East & Africa (MEA) and the United States.

The fundraising comes amid growing regulatory scrutiny and rising transaction volumes across digital payments, putting pressure on banks and payment institutions to modernise legacy acquiring systems. As regulators demand greater transparency, resilience, and data governance, infrastructure providers are increasingly positioning compliance as a foundational layer rather than an afterthought.

Mylapay recently launched a unified acquiring platform designed to enable banks and payment aggregators to manage card and UPI acquiring through a single integration. The company says the platform is capable of processing more than 5,000 transactions per second and has been built with compliance and performance as core design principles.

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

Investors pointed to the strategic importance of modern acquiring infrastructure as payment ecosystems become more complex and cross-border use cases expand.

With digital payment volumes continuing to rise and regulators tightening oversight across jurisdictions, infrastructure providers that can combine high throughput with regulatory readiness are increasingly viewed as critical enablers of the next phase of payments growth. Mylapay’s latest funding positions it to compete in this space as it prepares for a larger Series A round.