Advance Intelligence Group, a Singapore-based AI-driven technology company, has raised $80 million in its latest funding round led by existing investors Warburg Pincus and Northstar Group.
The company has raised over $700 million in total and secured capital exceeding $1 billion for its credit book. Advance Intelligence Group, which operates across Asia, is one of the largest independent financial services-focused technology startups in the region.
Its ecosystem of AI-powered credit-enabled products and services includes buy now pay later platform Atome, digital lending platform Kredit Pintar, identity compliance and risk management solutions provider ADVANCE.AI, and ecommerce merchant services platform Ginee.
The company serves over 500 enterprise clients, 235,000 merchants and 40 million individual consumers, and has disbursed over USD 4 billion in loans since its inception.
In the consumer space, Atome is consolidating its regional leadership by offering greater financial flexibility to consumers and value-add services to its network of merchants. In the enterprise space, ADVANCE.AI is evolving into a world-class end-to-end risk management platform.
Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, said the new investment will help accelerate the company’s program of using AI technology to streamline consumer transactions and enable greater and fairer access to credit and financial products and services.
Saurabh Agarwal, Partner and Managing Director at Warburg Pincus, said Advance Intelligence Group and its leadership team continue to execute their vision of advancing the digital ecosystem in the region.
Patrick Walujo, Co-Founder and Managing Partner of Northstar Group, said the company was delighted to continue its partnership with Jefferson and his team to grow Advance Intelligence Group into Asia’s leading AI-powered digital financial services company.
Southeast Asia remains one of the fastest growing digital markets globally, with a population of 680 million, the majority of whom still lack affordable and equitable access to credit. Advance Intelligence Group is committed to delivering its services to millions of customers across the region.
Founded in 2016, Advance Intelligence Group has built a reputation as a reliable and innovative financial services provider across Asia. Its ability to leverage the latest in AI technology has allowed the company to disrupt traditional financial services and drive innovation in the industry.
With its latest funding round, the company is poised to continue its growth trajectory and transform the financial services landscape in the region. – BusinessNewsAsia.com