Singapore based start-up raises US$3 million in funding

Singapore-based fintech start-up Active.ai has raised US$3 million or SGD 4.3 million in funding from IDG Ventures India and Kalaari Capital.

Ravi Shankar, CEO and co-founder of Active.ai Photo courtesy: LinkedIn profile of Ravi Shankar

Active.ai uses artificial intelligence (AI) to deliver virtual assistant banking services. The company will use the investment to expand its clientele and advance its AI features to improve the delivery of banking experience via its platform.

Indian-origin Ravi Shankar, CEO and co-founder said, “Conversation is the new UX (user experience) and with banks opening up APIs (Application Programming Interface), a new era of digital business is emerging. We are moving from ‘Mobile First’ to ‘AI first’ and Active.ai is the platform facilitating banks to achieve that.”

Also read: MAS, R3 and financial institutions experimenting with blockchain technology

Founded in 2016, Active.ai, is run by Active Intelligence Pte. Ltd. The company’s LinkedIn profile summarises Active Intelligence as a platform that enables financial institutions to deliver services using intuition and automation over channels of engagement. Company’s vision is to become the AI Software-as-a-Solution (SaaS) platform for financial services.

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Garima Kapil
Garima Kapil – Senior Writer

Garima Kapil has around five years of experience in the field of writing and editing. Specialised in writing, performing proof-reading and text editing functions along with content ideation; she has worked with leading e-commerce and as a freelancer. She writes on lifestyle, news, telecom, travel, education, healthcare, immigration, along with other subjects required as a full-time writer and freelancer. 

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