ANI PR Wire
10 Jan 2023, 21 GMT+10
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.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/ BusinessWire India)
Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationWASHINGTON, D.C.: Finland and Sweden are prepared to join the NATO alliance, the U.S. State Department announced this week.The move ...
WASHINGTON D.C.: The US Justice Department has filed an antitrust complaint claiming that Google is abusing its dominance in digital ...
Public health experts have welcomed Mexico's ban on cigarette smoking in all public places, including hotels and beaches, after the ...
YONKERS, New York: After testing discovered harmful levels of heavy metals in chocolate, consumer magazine Consumer Reports has urged four ...
OUAGADOUGOU, Burkina Faso: As Burkina Faso, in western Africa, faces an Islamist insurgency, it is set to end a military ...
TOKYO, Japan: Japanese Prime minister Fumio Kishida said this week that it was "now or never" for Japan, one of ...
BENTONVILLE, Arkansas: To attract and retain employees in a tight domestic labor market, Walmart has announced that it it will ...
NEW YORK, New York - U.S. stocks hesitatingly continued higher Friday, reflecting widespread gains, albeit modest ones, across the globe."We're ...
NEW YORK CITY, New York: As early as this year, lab-grown meat could be served in some restaurants in the ...
BANGKOK, Thailand: Following China's reopening and the end of its strict COVID-19 restrictions, businesses on Thailand's holiday island of Phuket ...
NEW YORK, New York - Recession fears faded on Wall Street Thursday as annualized 4th quarter GDP (gross domestic product) ...
WASHINGTON D.C.: In December 2022, US existing home sales declined to a 12-year low, but lower mortgage rates raised cautious ...