PayPal Ventures leads a $20 million funding round for SaaS startup Mintoak.

Software-as-a-Service (SaaS) platform Mintoak, which specialises in merchant services, has secured $20 million.

The Mumbai-based business claimed that HDFC Bank increased its equity through its investment from 5.20% to 7.75%.

In a stock exchange statement from December, HDFC Bank made the fundraising announcement.