Tinvio Raises $12M Series A for Supply Chain Finance

Tinvio Secures $12 Million Series A to Expand B2B Platform and Launch Financial Services

Initially conceived to provide supply chain businesses with a more efficient communication channel to buyers, Tinvio is now poised to introduce a suite of financial services, encompassing financing options and credit card issuance. The Singapore-based startup recently announced the successful completion of a $12 million Series A funding round, intended to further develop its B2B transaction platform.

Investment Details

AppWorks Ventures spearheaded the investment round, with significant participation from MUFG Innovation Partners (MUIP), the venture capital arm of Mitsubishi UFJ Financial Group focused on fostering collaboration between startups and established financial institutions.

Existing investors – including Sequoia Capital India’s Surge, Global Founders Capital, and Partech Ventures – also reinvested in this Series A round, bringing Tinvio’s total funding to $18.5 million.

Company Background and Growth

Tinvio had previously secured $5.5 million in seed funding back in April 2020. The company was established in July 2019 by Ajay Gopal, who brings extensive experience from his time as a fintech investment banker at Credit Suisse in London, where he oversaw initial public offerings and mergers & acquisitions.

Since receiving its seed funding, Tinvio reports a fourfold increase in its client base, now exceeding 5,000 businesses across Singapore, Indonesia, Thailand, and other Asian markets. According to Ajay, the company’s growth is largely driven by positive word-of-mouth and referrals.

For instance, QQ Group, a prominent Southeast Asian F&B supplier, integrated all its merchants onto the Tinvio platform, now utilizing it for all trade order processing.

Focus on the F&B Sector

Tinvio strategically prioritizes businesses within the Food & Beverage (F&B) industry due to the sector’s inherent challenges with managing perishable goods, orders, and inventory. While the company also serves clients in healthcare and automotive, it intends to maintain its focus on expanding within the F&B market.

Platform Evolution and Financial Services

The initial Tinvio application was designed to consolidate orders originating from various sources – including email, SMS, and WhatsApp – and provide suppliers with real-time digital record-keeping capabilities.

Recently, the platform expanded into financial services by incorporating digital payment collection and reconciliation features. Many suppliers still rely on traditional payment methods like bank transfers, cash, and paper checks, creating difficulties in cash flow management.

To address this, Tinvio launched a pilot program for on-platform payments in Indonesia late last year. Following successful validation, B2B payments were integrated into the core product offering. The platform now supports payments via credit cards, direct debits, and automated bank transfers, and integrates with regional payment gateways.

Over the past two months, an impressive 95% of suppliers utilizing the platform have continued to leverage Tinvio for collecting payments from their merchants.

Future Roadmap

“We’ve already received substantial feedback from our users, and are rapidly developing new functionalities such as real-time payments and credit options,” Ajay stated.

The company’s 12-month roadmap includes the rollout of additional financial services, such as transaction financing, credit card issuance, and invoice factoring, with pilot programs scheduled for the next two quarters. “Our partnership with MUFG bank, established during this Series A round, positions us favorably to accelerate the launch of our financial technology stack,” Ajay explained.

Industry Perspective

Jessica Liu, managing partner at AppWorks Ventures, commented, “Tinvio’s dedication to modernizing B2B trade through a user-friendly experience has enabled the onboarding and digitalization of thousands of merchant and supplier teams without disrupting established workflows. Despite the challenges posed by COVID-19, we continue to observe strong growth, fueled by increasing network effects, solidifying Tinvio’s position to lead this market segment.”