Singapore-based AI company Advance Intelligence Group today announced it has raised US$80 million from an investor consortium led by existing investors Warburg Pincus and Northstar Group.
The fundraising follows its previous Series D funding round of over US$400 million in 2021.
In total, the company has raised over US$700 million and has secured capital in excess of US$1 billion supporting its credit book.
Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, said in a statement: “Since our previous raise in 2021, we have taken a disciplined approach and made good progress in fulfilling our vision of advancing tomorrow’s digital ecosystem across the region. This new investment will help accelerate our programme of using AI technology to streamline consumer transactions and enable greater and fairer access to credit and financial products and services. We appreciate our investors’ continued faith and confidence in us.”
e27 has reached out to Advance Intelligence Group to find out more details about its plan with the new funding.
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Founded in 2016, Advance Intelligence Group is headquartered in Singapore with operations across Asia. It provides an ecosystem of AI-powered, credit-enabled financial products and services that include buy-now-pay-later (BNPL) platform Atome; Indonesian lending platform Kredit Pintar; SaaS provider of enterprise digital identity, compliance and risk management solutions ADVANCE.AI; and omnichannel e-commerce merchant services platform Ginee.
The company said that it serves over 500 enterprise clients, 235,000 merchants and 40 million individual consumers. Since its inception, it has disbursed over US$4 billion in loans.
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