Warburg Pincus, Northstar backed $80 M secured by tech firm Advance Intelligence
A consortium of investors led by Warburg Pincus and Northstar Group, two current investors, helped Advance Intelligence Group, a Singapore-based technology company focused on artificial intelligence (AI), raise $80 million, the company announced.
The group previously raised over $400 million in a Series D round in 2021, according to a statement from Advance Intelligence.
The group has raised more than $700 million in total and secured more than $1 billion in capital to support its credit book.
Standard Chartered Bank is also recognized by the group as a reliable regional strategic partner supported by effective regional funding and product partnerships.
“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,” said Jefferson Chen, Co-Founder, Group Chairman, and Chief Executive Officer of Advance Intelligence.
He claims that this new investment will contribute to the acceleration of our program to use artificial intelligence (AI) technology to simplify consumer transactions and enable more equitable and widespread access to credit and financial products and services.
“We appreciate our investors’ continued faith and confidence in us,” he added.
One of the biggest independent financial services-focused technology startups in Asia, Advance Intelligence is based in Singapore and operates throughout the continent.
Since its founding in 2016, the company has developed an ecosystem of AI-powered, credit-enabled goods and services, including a platform for “buy now, pay later.” Leading enterprise software as a service (SaaS) provider of digital identity, compliance, and risk management solutions Atome, Indonesia’s top digital lending platform Kredit Pintar.omnichannel e-commerce merchant services platform Ginee, along with AI.
