Raman Khanduja (Mintoak)
Overview
Raman Khanduja is an entrepreneur and financial services expert, known for co-founding and spearheading Mintoak Innovations Private Limited as its CEO. Mintoak is a SaaS platform that assists banks in expanding their merchant services. Khanduja is renowned for his extensive experience in the financial sector, having held notable positions at Visa and various prominent financial institutions in India. Under his leadership, Mintoak has significantly impacted the digital payments landscape by providing innovative solutions for small and medium enterprises (SMEs).
Recent Developments
- January 2025: Mintoak onboarded a new investor, Z3Partners, through a secondary transaction aimed at expanding their reach to more banks in West Asia and Africa. This step reinforces Mintoak’s ambition to increase its international revenue from less than 10% to 25% in the upcoming years. The company announced significant growth with over 3 million merchants and more than $50 billion in annual gross merchandise value.
- April 2024: Raman Khanduja highlighted in several interviews about the strategic global expansion plans of Mintoak, particularly targeting the Middle East and Africa to strengthen their global presence.
- June 2023: Mintoak was recognized in the CB Insights Fintech 100 List, marking it as one of the world’s top fintech innovators.
- January 2023: Mintoak closed a $20 million equity funding round led by PayPal Ventures, with participation from British International Investment, HDFC Bank, and Pravega Ventures.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Raman Khanduja |
| Born | Not publicly available |
| Nationality | Indian |
| Occupation | Entrepreneur, Co-founder & CEO at Mintoak |
| Known For | Co-founding Mintoak Innovations |
| Education | MBA from Indian Institute of Management, Calcutta; Bachelor's in Mechanical Engineering from T.I.E.T, Patiala |
Early Life and Education
Raman Khanduja’s early education in engineering at T.I.E.T, Patiala, laid the groundwork for his analytical skills and problem-solving approach. His pursuit of an MBA from the prestigious Indian Institute of Management, Calcutta, equipped him with essential business acumen, enabling him to thrive in diverse financial roles. Throughout his formative years, Khanduja exhibited a passion for finance and technology, which later directed his career path into the financial services and digital payments industry. His early career roles at established firms such as American Express and Pricewaterhouse Coopers provided him critical industry insights and experience.
Career and Notable Achievements
Raman Khanduja's career is marked by diverse roles across the banking and financial services industry:
- Visa: As the Head of Business Development for India and South Asia, Khanduja played a critical role in expanding Visa’s market presence and liaising with regional financial institutions.
- Centurion Bank of Punjab: Managed product strategy in the cards segment.
- American Express: Served as Senior Business Analyst focusing on credit strategy.
- Mintoak Innovations: Co-founded this fintech startup in 2017, developing it into a leading platform facilitating digitally seamless payment solutions for SMEs across various regions.
Current Work and Impact
Currently, Khanduja continues to drive Mintoak's mission of enabling financial inclusivity for SMEs by integrating advanced technology with trusted financial services. Under his leadership, Mintoak supports over 3 million merchants globally, facilitating massive transaction volumes and partnering with prominent banks. His strategic vision includes expanding Mintoak’s service offerings beyond payments to encompass comprehensive merchant solutions.
Conclusion
Raman Khanduja’s influence in the fintech sector through Mintoak underscores his commitment to advancing merchant-centric payment solutions. His approach synthesizes technological innovation with traditional banking trust, positioning Mintoak at the forefront of financial service platforms for SMEs. Looking forward, Khanduja aims to further globalize Mintoak’s impact, enhancing SME operations across diverse markets while maintaining a focus on profitability and user engagement.