With this, it has raised $12 million in total from 1Digi Ventures. The SaaS startup raised $5 million in February 2022.
Actyv.ai said that the fresh funds will fuel global expansion, product enhancement, portfolio growth and talent acquisition.
Actyv.ai is an AI-powered enterprise SaaS platform with embedded business-to-business buy-now-pay-later (BNPL), and insurance. The startup claimed its total BNPL throughput crossed $100 million in December.
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“The company has 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,” it added.
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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 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.”The company’s product offerings include actyv Go, actyv Score, actyv PayLater, actyv Insure, actyv Invest and actyv Discover.
The investment comes at a time when startups are braving a funding winter that has prompted mass layoffs across sectors.
An anticipated slowdown in 2023 could be the first test for most Indian SaaS founders, who are used to steering their businesses through 30-40% topline growth, we reported last month.
Meanwhile, edtech SaaS startup Toddle has raised $17 million in its Series A funding round, led by Sequoia Capital India, it said on Tuesday.
Tenacity Ventures and Trifecta Capital, along with existing investors Matrix Partners, Beenext, and Better Capital, also participated in the funding round, the company said in a statement.
