Singapore-based ADVANCE.AI’s Credit Bureau Philippines (ADVANCE.CBP) has secured US$4 million in a seed funding round from Archipelago Capital Partners, a Singapore-based fund manager investing in Southeast Asia.
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ADVANCE. CBP intends to help fintech enterprises, digital banks, and thrift banks in the Philippines improve financial inclusion by providing high-quality credit information and data. ADVANCE. AI has a global footprint across 9 markets on 3 continents.
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“We see the launch of ADVANCE.CBP as a significant step in advancing the Philippine financial services ecosystem,” said Jovasky Pang, CEO of Archipelago Capital Partners. “This investment fits perfectly with our ethos of driving sustainable growth across Southeast Asia, creating value for local businesses and investors alike, and fostering growth in sectors that will benefit from rising income levels and increased consumer demand in the region.”
ADVANCE.AI is part of Advance Intelligence Group, a Series-D AI-driven technology company headquartered in Singapore, with operations across South and Southeast Asia, Latin America, and Greater China. Advance Intelligence Group was ranked in the Top 5 of LinkedIn’s 2023 Top Startups List in Singapore.
“The investment from Archipelago Capital Partners reinforces our shared vision of establishing a credit bureau that not only empowers lenders and borrowers but also strengthens and results in a more robust credit reporting and scoring infrastructure in the Philippines. This long-term investment will help strengthen and develop a more equitable and inclusive financial ecosystem for all Filipinos,” said Dennis Martin, CEO of ADVANCE.CBP.
In the Philippines, its clients range from banks to multi-finance companies and cooperative platforms, including Skyro, Inception Technology, and Traxion Tech. Globally, it serves large customers such as Standard Chartered, Shopee, CIMB, and Home Credit.
ADVANCE.AI is led by a broad multinational team of top executives, including investment bankers, technology professionals, and financial specialists. Whether designing high-tech automatic solutions or delivering anti-fraud strategic strategies, every team member is committed to assisting our clients in taking action to generate long-term change. Its executives at ADVANCE.AI are united in their belief that intelligent transformation from all areas of life will lead to a brighter future.
About ADVANCE.AI
Founded in 2016, ADVANCE.AI is a leading end-to-end SaaS risk management company in Southeast Asia, providing KYC/KYB digital identity, compliance, fraud prevention, and process automation for enterprise clients. Started in 2016 and headquartered in Singapore, ADVANCE.AI is a leader in Artificial Intelligence, risk management, and digital lending solutions.
It currently partners with over 500 enterprise clients in sectors such as banking, financial services, fintech, payment, retail, and e-commerce. ADVANCE.AI is the ASEAN Fintech winner at the 2023 Global Fintech Awards by the Monetary Authority of Singapore and the Singapore Fintech Association.
ADVANCE.AI was recognized for its innovative AI and fintech solutions in creating new growth opportunities, promoting financial inclusion, and enhancing the delivery of financial services across the ASEAN region.
ADVANCE.AI is part of Advance Intelligence Group, a Series-D AI-driven technology company headquartered in Singapore, with operations across South and Southeast Asia, Latin America, and Greater China. Advance Intelligence Group was ranked in the Top 5 of LinkedIn’s 2023 Top Startups List in Singapore.
