AI Startup Advance Intelligence Group Raises $400M, Valued at $2B
Singapore-based AI startup Advance Intelligence Group has raised over $400 million in a Series D funding round, announced in September 2021. Led by SoftBank Vision Fund 2 and Warburg Pincus, the round valued the company at over $2 billion.
Founded in 2016, the company operates in 12 markets across Asia and Latin America, employing 1,500 staff. It develops AI-powered credit products and services, aiming to deepen its AI and Big Data analytics capabilities and expand its enterprise client coverage. The latest funding will be used to grow its buy-now-pay-later (BNPL) platform and digital lending presence across Asia.
While there's no specific information about expansion into Europe or other regions, similar AI companies in Europe, like Mistral AI, are actively exploring markets beyond their home continent, including North America and Asia-Pacific.
Advance Intelligence Group's successful funding round, led by SoftBank Vision Fund 2 and Warburg Pincus, will support its growth in the AI and credit services sectors across Asia. The company's valuation has now surpassed $2 billion, reflecting investors' confidence in its potential.
