Through this newest funding, Advance Intelligence Group‘s valuation has reached US$700 million since its inception.
Heaptalk, Jakarta — An AI-driven financial technology firm, Advance Intelligence Group, has bagged an additional fund worth US$80 million, approximately Rp1.1 trillion, led by Warburg Pincus and an early Gojek investor, Northstar Group.
This new investment will accelerate the company’s program of using AI technology to simplify consumer transactions and enable greater and equitable access to credit and financial products and services.
Based on the company party, the funding follows the previous investment round Series D of US$400 million (Rp5.8 trillion), demonstrating the total capital raised to US$700 million, or equal to Rp10.2 trillion since its presence. This financial technology platform tackled the fund raised to amplify the company’s artificial intelligence capability and extensive data analysis.
The Co-Founder, Group Chairman, and Chief Executive Officer of Advance Intelligence, Jefferson Chen, revealed, “Since our previous raise in 2021, we have taken a disciplined approach and made outstanding progress in fulfilling our vision of advancing tomorrow’s digital ecosystem across the region. We appreciate our investors’ continued faith and confidence in us,”
Established in 2016, the Group is one of the most significant independent financial service-focused technology startups offering AI-powered credit-enabled products and services. The platform has served over 500 enterprise clients, 235 merchants, and 40 million individual consumers across the region and has dispensed US$4 billion in loans since its inception.
In its ecosystem, Advance Intelligence Group contains multiple business units in the fintech industry, including the credit scoring platform Advance.ai, buy now pay later product Atome, an online loans service Kredit Pintar, and omnichannel application Ginee.
Leading the advanced funding of this fintech company based in Singapore, the Partner and Managing Director of Warburg Pincus, Saurabh Agarwal, admitted that Southeast Asia remains one of the fastest-growing digital markets globally, with a population of 680 million people. Nevertheless, Agarwal perceives the majority still lacks obtaining reasonable and equitable access to credit.
“Therefore, we look forward to continuing this strategic partnership with Jefferson and backing the company to carry out its commitment devoted to millions of customers across the region,” Agarwal added.
“We are delighted to continue our partnership with Jefferson and his team to grow the firm into Asia’s leading AI-powered digital financial services company. Since 2016, we have witnessed tremendous growth and evolution of their economy and are proud to have the Group as one of our portfolio companies,” The Co-Founder and Managing Partner of Northstar Group, Patrick Walujo, said.
