SaaS startup Actyv.ai raises $7M in Pre-Series A round
, a SaaS startup with financial services on offer, has raised $7 million as part of its Pre-Series A round of funding from 1Digi Ventures, a family office based out of Singapore.
Actyv.ai has now cumulatively raised $12 million from its Pre-Series A round of funding, with the earlier tranche of $5 million coming in last year from the same family office. This startup is now actively in talks to raise its next Series A round of funding and expects to close in another 3-4 months.
Founded in 2019 by Raghunath Subramanian, Actyv.ai provides the technology platform that connects an enterprise with its suppliers and distributor channel. Through this platform, it enables credit facilities for the suppliers and distributor network.
Based out of Bengaluru and with its global headquarters in Singapore, Actyv.ai will use this funding round towards market expansion, product enhancement, and hiring talent.
According to Raghunath, the startup has onboarded more than 20 enterprise customers and an equal number of financial institutions to enable the credit facility. The startup claimed that it has processed over Rs 1,000 crore in financial transactions on its platform.
“Our AI-powered SaaS platform with its embedded offerings, drives substantial operational efficiencies and growth to the entire supply chain ecosystem," said Raghunath.
Actyv.ai gets the majority of its customers from the FMCG segment and said it is actively onboarding more clients onto the platform. Raghunath said the growth started accelerating in November last year.
This startup is looking to go beyond the Indian market and get into regions of the Middle East, South East Asia and Africa as part of its future growth plans.