AppWorks leads $12m round for Singapore's Tinvio

Japan’s MUFG Innovation Partners, Germany’s Global Founders Capital, US-based Partech Partners, and Sequoia Capital’s Surge accelerator also participated.

The company claims to have grown its user base fourfold to around 5,000 businesses since its last round, a $5.5 million investment by Global Founders, Partech, and Surge in April last year. This is despite a strong focus on the food and beverage (F&B) industry, which has been among the hardest hit by COVID-19 operating restrictions.

“The strong growth momentum across the region paired with exceptionally high retention rates is validation that we’re dominating this category of merchant–supplier transactions in Asia,” Tinvio said in a social media post.

Tinvio helps F&B companies – as well as some automotive and healthcare clients – connect with suppliers and manage orders and inventory on a single platform. The service aims to integrate and streamline various messaging and communications services used in the industry, improving efficiencies, while allowing supply chain partners to keep real-time digital ledgers.

The fresh capital will be used to support an expansion into financial B2B offerings, including payments collections and cash cycle management services, as well as invoice factoring and credit card issuing. MUFG is expected to be instrumental in building out the relevant technology and go-to-market strategy across the next 12 months.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Support services
• Early-stage
• Singapore
• Sequoia Capital
• enterprise software
• Financial Services
• TMT