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Tinvio raises fresh funding to reimagine how businesses interact and transact in Asia-Pacific
April 27, 2020
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- Surge, Global Founders Capital, Partech invest as part of a seed financing round in the chat-led procurement platform
- Headquartered in Singapore and operating in over 10 cities across APAC, Tinvio specialises in communication and commerce between merchant and suppliers
- The investment will be used for product development and regional expansion
Singapore, Apr 27, 2020 - Tinvio, a communication and commerce platform for merchants and suppliers, has secured S$8M (US$5.5M) in seed funding led by Surge, Sequoia Capital India’s rapid scale-up program, with participation from Global Founders Capital and Partech Partners. The company previously raised pre-seed capital from Rocket Internet. The new financing will be used to accelerate product development and market expansion in line with the company’s vision to reimagine how business interact and transact.
Tinvio was founded in Singapore in July 2019 by Ajay Gopal, and has expanded to a team of 30 builders and enablers across Asia-Pacific. Prior to launching Tinvio, Ajay worked with Rocket Internet in Berlin. Before that, he was a fintech investment banker at Credit Suisse in London, and had held product ownership in a Silicon Valley startup. He also co-founded a startup that was acqui-hired while in university.
Tinvio helps small and mid-sized merchants manage orders with their suppliers through a chat-led interface. Today most of these merchants in F&B, retail, and healthcare supply chains still place orders over email, WhatsApp, or phone calls, while invoices and payments are largely exchanged in paper form. This makes it tedious for business owners to keep track of their orders, accounts, and receivables. It also makes credit scoring and financing inaccessible, in turn restraining businesses from operating more efficiently.
Tinvio’s frictionless chat-to-order mobile experience enables users to send messages and orders to their suppliers in just a few taps. The mobile app also creates powerful digital ledgers of all orders, invoices, and issues for real-time monitoring and analysis.
In the 6 months since its launch, its customer base had grown to over a thousand businesses, with 50% monthly user growth, 80% cohort retention, and annualized GMV of S$50m. Tinvio is currently available in over 10 cities from Singapore to Hong Kong, and will continue its momentum by operating in more cities and languages in the region within the next 12 months. The company also has plans to offer digital financial services to the businesses.
During the ongoing pandemic, Tinvio has launched several initiatives to support local communities across the region. In Singapore, after an internal weekend hackathon, the team started The Save Our Nomnoms movement to help local F&B brands raise immediate awareness and enable direct discovery. The initiative reached 3,000 supporters in just 5 days with over 300 listed outlets. The company is committed to building capabilities that help small mid-sized businesses go digital through the crisis.
Tinvio is built around the idea that every merchant and supplier should be able to work smarter together. Through clean design, agile engineering, and genuine support, Tinvio unlocks capabilities that make them more productive and profitable. For more information or queries, please contact the team at email@example.com.