Tinvio, the Singapore-based communication platform for supply chain merchants has raised $5.5 million in its seed funding round which has been led by Sequoia Capital India’s Surge early-stage accelerator program along with the participation of Silicon Valley-based Partech Partners and Berlin-based VC Global Founders Capital.
Since founded in July 2019, Tinvio has totally raised $6.5 million (S$8 million) along with a pre-seed round received from Rocket Internet. It has grown its customer base to over 1,000 businesses in more than 10 cities with 50% monthly user growth, 80% cohort retention, and an annualized gross merchandise value of $35 million (S$50 million).
According to Ajay Gopal, who previously worked at Rocket Internet in Berlin and as a fintech investment banker at Credit Suisse, the startup is planning to add more cities and languages, along with its digital financial services, over the next 12 months. As per his words, the platform is primarily focusing on Australia, Taiwan, and Southeast Asia (SEA) to add to its list.
Ajay Gopal, the Founder and CEO of Tinvio states, “At its core, Tinvio is a real-time messaging app. For every 10 orders placed on Tinvio, there’s an average of two messages sent, reinforcing that communication is critical in fragmented supply chains.” He adds, “Our twelve months goal is to provide financial services to businesses and extend our market leadership in current cities and launch in more languages in different places.”