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Xendit case study: Tinvio splash page

Tinvio: Helping small to medium merchants and suppliers through a chat-led user interface

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3 min read

Tinvio was founded in late 2019 in Singapore by Ajay Gopal, a seasoned professional who worked with Rocket Internet in Berlin, was a Fintech Investment Banker at Credit Suisse in London and in prior roles held product ownership in a PayPal-backed startup in Silicon Valley.

With F&B, FMCG, health and other supply chain merchants and suppliers as their main customer segment in mind, Tinvio was launched as a B2B product aimed to manage orders, invoices and payments in a more simple, efficient and seamless way.

In a number of industries, most businesses traditionally accept and manage orders over fax, email or WhatsApp, where orders may not be centralised or could even be messy. Meanwhile, payment transactions were exchanged in cash, paper checks or overdue bank transfers. This made it tedious and more challenging for businesses to control and oversee cash flows. In addition, this made invoice financing and short-term lending inaccessible.

With Tinvio, businesses can enjoy a simple, unified and a more delightful experience to run their business. Tinvio also enables businesses to do what they do best without having to worry about business operations and payments.

“Being a sister Partech portfolio company, Ajay Gopal, Founder/CEO of Tinvio was connected to Moses at Xendit, and it has been a partnership since then.”

Xendit has since supported Tinvio in a number of ways, and one that Tinvio most valued is the ability of Xenplatform to manage a network of sub-accounts for merchants and suppliers, with reliable pay-in and pay-out capabilities.

The business impact to Tinvio so far has been positive, where some results include:

“Direct contribution to TPV, our organizational north star metric, for the Indonesian market. We’re growing at 50%+ compounded monthly. We’ve also found the client experience and success with Xendit’s team to be extremely dependable, such that in the event of potential transaction issues, we’ve been able to liaise and get them resolved quickly – which has helped us maintain our monthly TPV retention at >80%.”

With the significant growth by Tinvio, and with Xendit as the core underlying infrastructure for Indonesia, Tinvio is now focused on building product and enhancing the user experience to enable increasingly more on-platform embedded finance use-cases. Tinvio is laser focused on capturing the largest share of wallet for small to medium business procurement transactions in traditional supply chains. In addition, they are expanding into new geographies across Great Southeast Asia every quarter.

Tinvio has been a multi-country play from day one, and they hope to work with Xendit and use the underlying infrastructure beyond Indonesia, for the entire region. Tinvio is also hoping to partner with Xendit more on critical value-added services built on top of the payments infrastructure such as credit scoring, financing, analytics and more.

The team at Tinvio recognises that some of the newer solutions including Xencap offers a collaborative go-to-market opportunity, with features such as capital loans and financing. However, being less of a commodity and requiring significantly more customization – Tinvio hopes that Xendit will be able to provide flexible solutions that can support the needs of the end user.

Xendit case study: Tinvio founder Ajay Gopal
A parting tip for aspiring entrepreneurs, and founders looking to scale their business from Ajay Gopal at Tinvio,
“Fintech has no competitors, only partners – like Xendit.”

“Banks in the region have technologically competed with each other by building every part of their stack to enable various financial products. Today, they struggle with polarized fintech stacks that are archaic, sub-performant, and painful for collaborations. While this gives digital banks or TP3s the opportunity for PMF disruption, it also gives all fintech founders a lesson in execution:

In today’s API economy, we have an incredible opportunity to focus on building what matters most for our users, and feasibly collaborating with multiple players in the ecosystem to enable underlying or adjacent capabilities on our platform. Fintech has no competitors, only partners – like Xendit.”

Enjoy peace of mind with reliable payments and 24/7 customer support