SaaS Startup Raises $7M From 1Digi Ventures

An artificial intelligence powered SaaS startup, declared on Tuesday that it has crossed the $12 million mark as the final closing of its pre-Series A financing round (around Rs 96 crore).

The round had two tranches. In February of last year, the company acquired $5 million (about Rs 40 crore) from the 1Digi Investment management company and $7 million (roughly Rs 56 crore) from 1Digi Ventures, the family office of Raghunath Subramanian who’s the chief executive of worldwide.

The fresh funds will be used by Bengalur and Singapore-based for product development, hiring, and global expansion.

With the help of an intuitive platform and financial solutions, launched in 2019 by Raghunath Subramanian, Raghu Venkat, and Ramkumar Thirumurthi, helps large corporations strengthen their supply chains. Thanks to its scoring, financial institutions can provide unsecured, low-interest, closed-loop credit to SMBs (BNPL for B2B).

It claims to have enabled embedded BNPL and onboarded over 25,000 distributors and 100,000 retailers onto the platform with the aid of more than 20 financial institutions.

The entire supply chain ecosystem benefits from operational savings and growth because to our AI-powered SaaS platform, according to Subramanian. This further infusion of cash confirms our status as category pioneers in this industry and our determination to strengthen the capabilities of our platform.

Singapore-based 1Digi Ventures invests primarily in seed and series A rounds of start-up businesses engaged in B2B transactions.