Singapore-based AI-driven technology company Advance Intelligence Group has raised $80 million in funding from an investor consortium led by existing investors Warburg Pincus and Northstar Group.
The new round follows the Group’s Series D funding of over $400 million in 2021. To date, the Group has raised over $700 million and secured over $1 billion in capital to support its credit book.
Operating across Asia, Advance Intelligence Group 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, SaaS provider ADVANCE.AI, and ecommerce merchant services platform Ginee.
The Group serves over 500 enterprise clients, 235,000 merchants, and 40 million individual consumers and has disbursed over $4 billion in loans. Atome continues to solidify its regional leadership, while ADVANCE.AI evolves into an end-to-end risk management platform.
Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, highlighted the company’s progress in advancing the digital ecosystem across the region since its 2021 raise.
“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. We appreciate our investors’ continued faith and confidence in us,” Chen said.
Saurabh Agarwal, Partner and Managing Director at Warburg Pincus, emphasized Southeast Asia’s potential as one of the fastest-growing digital markets globally. He looks forward to continuing the partnership with Advance Intelligence Group to deliver on its commitment to millions of customers in the region.
“We are delighted to continue our partnership with Jefferson and his team to grow Advance Intelligence Group into Asia’s leading AI-powered digital financial services company. Since 2016, we have witnessed tremendous growth and evolution of their ecosystem and are proud to have the Group as one of our portfolio companies,” said Patrick Walujo, co-founder and managing partner of Northstar Group.