Indian BNPL Startup Actyv.ai Raises $5M

B2B buy now pay later (BNPL) startup Actyv.ai has raised $5 million in a Pre-Series A funding round led by Dubai’s 1Digi Investment.

The Mumbai-based firm announced the funding in a news release Wednesday (Feb. 23), saying the money would allow it to scale and expand globally.

Actyv.ai refers to itself as an enterprise Software-as-a-Service (SaaS) “low-code no-code platform … used by large enterprises to transform their supply chains and to empower their partners with an intuitive platform and financial products.”

Using its platform, the company helps enterprises by leveraging existing IT systems to access working capital while giving banks qualified small to medium-sized business (SMB) data to extend in B2B buy now, pay later (BNPL) credit programs, according to the release.

“Keeping these in mind, our immediate focus now will be to onboard globally, top-tier talent across R&D, Product Management & Engineering, Sales & Marketing/Business Development and Corporate Development across India (Multi-location), Singapore, London, Dubai and Eastern Europe,” said CEO Raghunath Subramanian.

This week has been a busy one for B2B BNPL news around the world. In Canada, a company called Tabit announced its launch, calling itself the country’s first point-of-sale BNPL offering for the B2B sector.

Read more: Tabit Launches Canada’s First B2B BNPL POS Service

Based in Vancouver, Tabit says it works to provide small businesses with payment options by integrating a card offering at point of sale, with a platform powered by the Canadian small business financier Merchant Growth.

“Bank loans for small businesses are notoriously hard to get,” said Tabit founder and CEO David Gens. “It is also very difficult for many small businesses to obtain credit from their suppliers. Tabit was created to fix that.”

On Tuesday, Manila-based B2B payments firm PayMongo raised $31 million in a Series B funding round that the company said it would use to add BNPL-related services.

Related: Filipino Payments Firm PayMongo Raises $31M