Singapore-based B2B BNPL and insurance player actyv.ai has collected $12m in its pre-Series A funding round, as it explores global expansion efforts.  

The investment was backed by 1Digi Ventures, Singapore, which is the family office of Raghunath Subramanian.  Subramanian is also the founder and global CEO of actyv.ai.

This pre-Series A funding includes a $5m investment supplied by 1Digi Ventures in 2022.

Funds have been earmarked for global expansion, product enhancement, portfolio growth and talent acquisition.

The FinTech company said it has experienced a strong 2022, with its total BNPL throughput exceeding $100m.

actyv.ai offers B2B BNPL and insurance products, with the aim of transforming the global B2B supply chain by making business transactions faster and easier. It has four core products, actyv Go, actyv Score, actyv PayLater and actyv Insure.

Its actyv Go service automates and accelerates onboarding and offboarding processes, with features including digital document collection, information extraction, data verification, fraud checks and more.

actyv Score is a ‘first-of-its-kind’ rating and underwriting tool. It conducts an assessment of validated and authenticated historical, both financial and non-financial.

The actyv PayLater solution is the company’s embedded BNPL payment tool. Finally, actyv Insure provides enterprises and their business partners with bit-sized digital insurance.

It has partnerships with over 20 financial institutions, where it has embedded BNPL services. Additionally, 25,000 distributors and 100,000 retailers have been onboarded on the platform.

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.”

 Another Singapore-based FinTech company to recently close funding was Igloo. The InsurTech platform raised $27m in its Series B.