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.
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.”
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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.