Exclusive-Singapore’s ADVANCE.AI raising $200 million from Warburg Pincus-led investors – sources
By Anshuman Daga
SINGAPORE (Reuters) – Singapore-headquartered tech startup ADVANCE.AI is raising about $200 million in a funding spherical which will propel it proper right into a small group of Southeast Asia unicorns – unlisted firms valued at $1 billion or further, two sources acquainted with the matter said.
ADVANCE.AI, which makes use of artificial intelligence-pushed experience to produce digital id verification, fraud detection and credit score rating scoring corporations, has secured Warburg Pincus as a result of the lead investor throughout the funding, the sources said.
The sources declined to be acknowledged as a result of the funding has not been finalised.
There was no response to Reuters queries despatched to ADVANCE.AI.
The backing from Warburg Pincus, certainly one of many world’s largest private equity corporations, is anticipated …