Advance Intelligence Group Raises US$80 Million

Advance Intelligence Group Raises US$80 Million

by May 3, 2023

Singapore tech unicorn Advance Intelligence Group (“the Group”) announced it had raised US$ 80 million from an investor consortium led by existing investors Warburg Pincus and Northstar Group.

This new investment comes after the Group’s Series D round of over US$ 400 million in 2021, bringing its total funds raised to over US$700 million and securing an excess of US$ 1 billion in capital to support its credit book.

They said that the latest investment will accelerate the Group’s mission to leverage AI technology in streamlining consumer transactions and providing more accessible and equitable credit and financial products and services. The Group counts Standard Chartered Bank as a trusted regional strategic partner, bolstered by strong regional product and funding collaborations.

Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, and CEO of Atome Financial

Jefferson Chen

Jefferson Chen, Co-Founder, Group Chairman, and CEO of Advance Intelligence Group, expressed gratitude for the continued support from investors, stating, “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.”

The Group, founded in 2016, is one of Asia’s largest independent financial services-focused technology startups, offering an ecosystem of AI-powered credit-enabled products and services. It serves over 500 enterprise clients, 235,000 merchants, and 40 million individual consumers across the region, having disbursed more than US$ 4 billion in loans since inception.