Mintoak Acquires ICC Loyalty, Expanding Global Footprint
On August 4, 2026, Mintoak Innovations Pvt Ltd announced the acquisition of ICC Loyalty, a Dubai‑headquartered fintech specializing in loyalty and rewards solutions. The deal broadens Mintoak’s geographic reach to the Middle East, Africa, Eastern Europe and Asia, adding to its existing payments and engagement operating system for acquirers.
The combined business now generates over US$30 million in annual revenue with a profitability margin exceeding 30 percent. ICC Loyalty serves more than 30 leading banks and 11 million customers across 10+ countries, counting Emirates Islamic, Dubai Islamic Bank (DIB) and RAKBANK among its clients.
Following the acquisition, Mintoak’s partner network expands to over 50 banks in more than 20 countries, including Indian institutions HDFC Bank, Axis Bank and SBI Payments, Middle‑East banks Emirates Islamic and RAKBANK, and Africa’s Absa Bank. The platform, backed by PayPal Ventures, British International Investment, Pravega Ventures, HDFC Bank and Z3Partners, supports over 5 million merchants, serves 11 million customers, and processes more than US$93 billion in annual payment volume.
Raman Khanduja, Co‑founder and CEO of Mintoak, described the acquisition as a “defining milestone,” emphasizing that the next growth phase will stem from customer engagement and data‑driven intelligence. Amit Narang, Co‑founder and CEO of ICC Loyalty, highlighted the integration of Mintoak’s AI capabilities to deliver hyper‑personalised experiences for existing and new clients.
Key contacts for further information are Khushaal Talreja, Group Head of Marketing at Mintoak, and Riddhi Sharma, PR Lead at Jajabor Brand Consultancy.