Advance Intelligence Group, a Singapore-based AI-driven technology company, announced today that it has raised $80 million from an investor consortium led by existing investors Warburg Pincus and Northstar Group.
This follows the Group’s previous Series D round in 2021, which raised over $400 million. In total, the Group has raised over $700 million, securing capital exceeding $1 billion to support its credit book.
The group counts Standard Chartered Bank as a strategic regional partner, strengthened by robust regional product and funding collaborations.
Founded in 2016 and operating across Asia, Advance Intelligence is one of the largest independent financial services-focused technology startups in Asia.
It has built an ecosystem of AI-powered, credit-enabled products and services, including buy now pay later platform Atome, Indonesia’s top digital lending platform Kredit Pintar, leading SaaS provider of enterprise digital identity, compliance, and risk management solutions ADVANCE.AI, and omnichannel ecommerce merchant services platform Ginee.
With over 500 enterprise clients, 235,000 merchants, and 40 million individual consumers, the Group has disbursed more than $4 billion in loans.
Atome consolidates regional leadership by offering enhanced financial flexibility to consumers and value-added services to its vast merchant network. Meanwhile, ADVANCE.AI is transforming into a world-class end-to-end risk management platform.
“This new investment will help accelerate our program of using AI technology to streamline consumer transactions and enable greater and fairer access to credit and financial products and services,” said Jefferson Chen, co-founder, group chairman, and CEO of Advance Intelligence Group.
Saurabh Agarwal, Partner and Managing Director of Warburg Pincus, highlighted the continuing partnership with Advance Intelligence Group in advancing the digital ecosystem in Southeast Asia. Patrick Walujo, Co-Founder and Managing Partner of Northstar Group, expressed delight in the ongoing partnership and the Group’s growth and evolution since 2016. – AsiaTechDesk.com