Enterprise SaaS firm Actyv.AI raises $12 million in pre-series A funding
Software-as-a-Service (SaaS)-based business-to-business (B2B) fintech firm Actyv.
AI has raised $12 million in a pre-series A funding round led by 1Digi Ventures which is the family office of Raghunath Subramanian, founder and chief executive officer of the company.
The round included an earlier tranche of $5 million from 1Digi Ventures in 2022, the firm said in a prepared statement on Tuesday.
Actyv plans to use the funds towards global expansion, product enhancement, portfolio growth, and talent acquisition.
Founded in 2019 by Raghu Venkat, Raghunath Subramanian and Ramkumar Thirumurthi, Actyv is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance products.
Through its partnerships with financial institutions, Actyv enables enterprises, suppliers, distributors and retailers to undertake B2B supply chain finances.
The firm’s products include actyv Go, actyv Score, actyv PayLater, actyv Insure, actyv Invest, and actyv Discover.
“Our AI-powered SaaS platform, with its embedded offerings, drives substantial operational efficiencies and growth to the 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,” said cofounder Subramanian in the statement.
In December 2022, the total BNPL throughput crossed $100 million at Actyv.
The company claims to have partnered with more than 20 leading financial institutions enabling embedded BNPL. Over 25,000 distributors and one lakh retailers have been onboarded on the platform.
In January, Actyv announced the appointment of Karan Dixit as Regional Vice President – BD, Sales and GTM (Middle East, Africa and Turkey).
As we expand our footprint in Middle East, Africa, Turkey and Europe, Karan’s expertise in creating self-sustaining partner ecosystems and rapid value realization for customers, along with building top-performing sales teams will accelerate our growth as a global technology provider,” Subramanian said.
1Digi Ventures, Singapore, is an early stage, technology-focused family office.
The VC invest across Seed and Series A startups, predominantly in the B2B space and help entrepreneurs to build unique solutions that have the potential to disrupt the B2B ecosystem.
“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 Subramanian.
