actyv.ai Raises Total USD 12 Mn as Part of Pre-Series A
Jan 10, 2023
Bengaluru (Karnataka) [India], January 10 (ANI/ BusinessWire India): actyv.ai, a Singapore-headquartered, category creator in the enterprise SaaS with embedded B2B BNPL and insurance space, has raised a total of USD 12 million as part of Pre-Series A funding round from 1Digi Ventures, Singapore, the family office of Raghunath Subramanian, Founder and Global CEO of the company. This includes an earlier tranche of USD 5 million from 1Digi Ventures in 2022. This will fuel global expansion, product enhancement, portfolio growth and talent acquisition.
actyv.ai grew considerably in FY 23. In December 2022 alone the total BNPL throughput crossed
USD 100 million. The company delivers significant value for large enterprises* across business verticals and their allied partner ecosystem through its technology platform. The company has partnered with more than 20 leading financial institutions enabling embedded BNPL. Over 25,000 distributors and one lac retailers have been onboarded on the platform.
Commenting on this, Raghu Subramanian said, "We now have a proven track record of achieving milestones in product development, business growth and attracting talent. Our AI-powered SaaS platform with its embedded offerings, drives substantial operational efficiencies and growth to the entire supply chain ecosystem. This additional infusion of funds validates our being category creators in this space and the conviction to augment our platform's capabilities."
He further added, "PwC has been a true partner in progress, guiding and supporting us in every step of the latest fund raise. Their work in setting up our headquarters in Singapore and building internal governance structures for the company has been brilliant. As we enter the hyper-growth phase and increase our global footprint, we look forward to further strengthening this association."
Talking about the company's partnership with Shardul Amarchand Mangaldas & Co., Raghu said, "Their legal expertise and counsel has helped establish a strong legal framework and advised in relation to fund raise and corporate matters for actyv.ai. We shall continue to benefit from their legal guidance and advice."
"HSBC has extended their immense support in seamlessly establishing the banking infrastructure across geographies. We look forward to a long-lasting and mutually beneficial association with them," said Raghu.
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