Mintifi, a digital lending platform for distributors and retailers, has raised $40 million (or roughly Rs 298.6 crore) as a part of a fresh funding round led by Norwest Venture Partners and Elevation Capital, the company said on Tuesday. The company expects to use the funds to build on its existing technology infrastructure, expand into newer offerings as well as scale up its team. The company works with corporates across 10 industries including automotive, FMCG, kitchenware and apparel, and has built a loan book of over Rs 2000 crore, since inception. With this fundraise, the company has raised a total of $60 million in equity and another $40 million in debt to date. Currently, Mintifi has close to 100 corporates on its network and provides loans to over 9000 distributors and retailers.