Sanjay Nazareth (Mintoak): 10 Key Things You Must Know

Overview

Sanjay Nazareth is an influential figure in the fintech space, recognized primarily as a co-founder of Mintoak Innovations Pvt. Ltd., a leading fintech company based in Mumbai, India. With over 19 years of experience in banking and payments, Sanjay has played a pivotal role in transforming the digital payments landscape through innovative solutions for small and medium enterprises (SMEs). Mintoak, established in 2017, offers a suite of services designed to enhance payment processes and business growth. This article explores ten key aspects of Sanjay Nazareth’s career and contributions to fintech, providing insights into his professional achievements and impact on the industry.

1. Founding Mintoak Innovations

Sanjay Nazareth co-founded Mintoak Innovations in 2017 with the aim of bridging the gap between banks and small businesses. The company provides software-as-a-service solutions that enable banks to offer comprehensive payment and commerce tools to merchants. By facilitating seamless integration, Mintoak supports millions of SMEs in South Asia, Africa, and the Middle East, empowering them with innovative payment solutions and real-time analytics.

2. Career at Visa

Before founding Mintoak, Sanjay Nazareth served as the Senior Director of Client Support at Visa India and South Asia. His role was pivotal in managing relationships with key clients and driving operational excellence. Sanjay’s experience at Visa equipped him with the expertise to handle diverse operational challenges and laid the foundation for his entrepreneurial journey.

3. Contributions to Rupay

Sanjay played a significant role in the establishment of the Rupay brand during his tenure at the National Payments Corporation of India (NPCI). His efforts contributed to transforming the Indian payment industry by providing an indigenous card payment network, which became a viable alternative to global players like Visa and Mastercard.

4. Educational Background

Sanjay Nazareth completed his Bachelor of Commerce in Accounting from St. Andrew’s College of Arts, Commerce, and Science, Mumbai. His academic foundation in commerce has been instrumental in his career, providing him with the financial acumen needed to navigate the fintech landscape effectively.

5. Mintoak’s Global Reach

Under Sanjay’s leadership, Mintoak has expanded its global footprint, currently operating across six countries. The company’s platform supports more than 3 million merchants worldwide, enabling them to enhance their business operations through various financial services, including payment processing and customer engagement tools.

6. Innovative SaaS Solutions

Mintoak stands out for its modular, API-first platform, which allows banks to deploy custom solutions for their SME clients. These include digital payments, cross-selling opportunities, and gamified loyalty programs. Sanjay’s strategic vision for Mintoak focuses on providing scalable solutions that cater to the evolving needs of small businesses.

7. Achievements in Funding

Mintoak has successfully secured significant funding to fuel its growth, with investments from leading players such as PayPal Ventures and British International Investment. As of 2025, the company has raised approximately $25 million through various financing rounds, underscoring investor confidence in Mintoak’s innovative business model and growth potential.

8. Focus on Financial Inclusion

A key aspect of Sanjay’s work at Mintoak is his commitment to financial inclusion. By offering affordable and accessible payment solutions, Mintoak empowers SMEs in underbanked regions to participate in the digital economy, thereby fostering economic growth and development.

9. Challenges and Market Dynamics

Like many fintech startups, Mintoak has faced various market challenges, including stiff competition and regulatory hurdles. However, Sanjay’s resilient leadership and strategic initiatives have enabled the company to navigate these complexities, maintaining its competitive edge in the fintech sector.

10. Future Prospects

Looking ahead, Sanjay Nazareth aims to further expand Mintoak’s reach, focusing on enhancing the platform’s capabilities and broadening its service offerings. The company plans to enter new markets and offer a more comprehensive suite of solutions that go beyond payments, meeting the broader digital needs of merchants worldwide.

Conclusion

Sanjay Nazareth’s journey from a seasoned banking professional to a fintech entrepreneur exemplifies innovation and leadership. His work at Mintoak is redefining how banks and SMEs interact, driving financial inclusion, and enabling business growth in emerging markets. By leveraging cutting-edge technology and strategic partnerships, Sanjay continues to shape the future of digital payments, fostering an ecosystem that supports small businesses and drives economic development.