Singapore-headquartered SaaS (software-as-a-service) platform actyv.ai has raised $12 million in a Pre-Series A funding round from 1Digi Ventures, Singapore–a family office by Raghu Subramanian, the founder and CEO of actyv.ai. The funding includes an earlier tranche of $5 million from the same company in 2022.
The start-up will utilise the funds to expand its business globally. Additionally, it will spend money on product enhancement, talent acquisition and portfolio growth.
It crossed BNPL (buy now pay later) throughput worth $100 million in December 2022. Additionally, it has partnered with more than 20 financial institutions and is onboarded by more than 25,000 distributors and one lakh retailers, a company statement claims.
Commenting on the latest development, Subramanian said, “Our AI-powered SaaS platform with its embedded offerings drives substantial operational efficiencies to the entire supply chain ecosystem. The additional funds validate our being category creators in this space and the conviction to augment our platform’s capabilities.”
“PwC has been a true partner in progress, guiding and supporting us in the latest fundraise. They have been brilliant in setting up our headquarters in Singapore and building our internal governance structures. As we enter the hyper-growth phase and increase our global footprint, we look forward to further strengthening this association,” he added.
Recently, the SaaS platform appointed S Radhakrishnan, the former chief investment officer (CIO) and finance controller of Nestle and Rajeev Mittal, the managing director (MD) of India and SAARC, Autodesk as advisors.