PvX, a Singapore-based financial services platform for consumer apps, has announced that it has surpassed US$250 million in committed user acquisition (UA) financing.
This capital has been allocated to 20 mobile gaming and consumer app companies in PvX’s current portfolio. The financing is backed by General Catalyst through its Customer Value Fund (CVF), an existing investor.
In addition, PvX has raised a US$4.7 million seed extension, led by Z Venture Capital, the corporate venture capital arm of LY Corporation.
The funding round also included participation from Drive by DraftKings and existing investors General Catalyst, Play Ventures, and Storyhouse Ventures.
PvX will use the proceeds from the seed extension to expand its SaaS offerings, particularly its proprietary machine-learning platform, PvX Lambda. Lambda helps analyze industry trends and predict outcomes to guide underwriting and capital allocation decisions. This technology was key in evaluating the 20 companies eligible for the new capital commitment.
PvX follows a “cohort financing” model, providing non-dilutive funds for marketing. Unlike traditional venture capital, PvX does not take equity in the companies it finances. Instead, the capital works as a revolving facility, where companies can draw funds over 12–24 months and repay the principal along with a fixed, capped percentage of the revenue generated from the deployed funds.
“Surpassing US$250 million in commitments alongside this new round underscores the demand we’re seeing for financing that is both flexible and tied directly to growth,” said PvX Co-Founder and CEO Joe Wadakethalakal.
Daniel Song from Z Venture Capital noted that high customer acquisition costs and limited access to financing are major challenges for founders. He praised PvX for using its combined experience in gaming and finance to help startups grow more efficiently.
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