User acquisition financing platform PvX Partners raises US$10.5 million Series A round

[SINGAPORE] User acquisition (UA) financing platform PvX Partners announced on Thursday (Apr 23) that it has raised a US$10.5 million Series A round.

The round was led by venture capital firms T-Accelerate Capital, Z Venture Capital and Drive by DraftKings, which counts sports betting platform DraftKings as a backer. Play Ventures and General Catalyst also undertook follow-on investments in this round.

The company also announced that it has crossed US$750 million in committed UA financing, just six months after it crossed the US$250 million mark last October. It aims to quadruple its deal flow in 2026.

Singapore-headquartered PvX Partners specialises in UA financing for its clients – consumer apps – through its PvX capital product. In return for shouldering the downside risk so these companies can grow their cash flow, it takes a cut of its client companies’ revenue.

PvX Partners’ proprietary machine-learning platform and underwriting engine, PvX Lambda, analyses industry trends, benchmarks performance and forecasts UA outcomes.

Its findings provide insights into “cohorts”, which are groups of users with a common characteristic or experience within a defined time frame. It is this data that gives the company’s clients information on their users so their numbers can be grown.

The latest round of funding will go towards growing headcount and PvX Partners’ capacity to evaluate more deals, which would in turn increase its deal flow.

The company’s notable recent hires include its head of legal Rohan Dang, formerly from HSBC, and its chief technology officer Mahesh Jadhav, who has had stints at mobile gaming platforms Mobile Premier League and Dream11.

PvX Partners co-founder and CEO Joe Wadakethalakal said: “The market for UA financing is enjoying exponential growth and, in order to maintain our position as the leading firm in the category, this financing will support further enhancements to Lambda’s predictive capabilities and our product suite, enabling PvX to improve performance and reliability as we service more consumer apps at scale.”

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T-Accelerate Capital’s founding partner Carol Wong said: “We are entering an era where user acquisition transcends growth tactics to become a core capital allocation strategy.”