ADVANCE.AI Completes Series C Funding Round, Continues Deepening Focus on AI Enterprise Services Market
Using intelligence to drive industrial and social progress
ADVANCE.AI, an artificial intelligence and big data innovation company focused on the Asia-Pacific market, announced the completion of its Series C funding round. The round was led by Gaorong Ventures and Pavilion Capital, a subsidiary of Singapore's Temasek Holdings, with participation from GSR Ventures, Yuanjing Capital, Vision Plus Capital, and YiYuan Capital.
Headquartered in Singapore, ADVANCE.AI builds leading big data processing and analytics platforms, providing enterprise clients including financial institutions, telecom operators, and internet companies with core services such as credit assessment, anti-fraud, e-KYC, and facial recognition. Its operations currently cover China, Singapore, Indonesia, the Philippines, Vietnam, and India, helping numerous partners across the broader Asia-Pacific region achieve technological innovation and intelligent upgrades.
Since completing its Series B round in 2018, ADVANCE.AI has continued to increase R&D investment, with rapid development across its product lines, technologies, and solutions. Based on OCR, liveness detection, and facial recognition technologies developed at ADVANCE X-Lab, the company has achieved ultra-high-precision recognition for target markets, with particularly notable advantages in facial recognition, anti-fraud, and credit scoring systems in Indonesia, India, the Philippines, and Vietnam — leading the market. To date, ADVANCE.AI serves more than 300 enterprise clients, with monthly API visits reaching 40 million and business volume growing fivefold year-over-year, making it one of Singapore's key supported innovation enterprises.
Of particular note, building on its strengths in overseas personal credit reporting technology R&D, ADVANCE.AI has actively developed enterprise risk management services, applying its self-developed computer vision technology, anti-fraud capabilities, and modeling expertise to corporate ratings. Based on this, ADVANCE.AI launched its enterprise financial services project "Advance Card" in the Chinese market this March.
Targeting China's small and medium-sized enterprises, the project provides one-stop financial solutions including payments, expense control, and reimbursement through a mobile business card format. According to reports, less than six months since its launch, the project has already served over a hundred enterprise clients in China. Meanwhile, "Advance Card" is actively expanding into other regions, with Singapore set to become its first overseas destination.
In the second half of the mobile internet payments industry, the seamless experience of personal payments is driving transformation and upgrading in enterprise payments, with payment digitization becoming an important engine for the development of enterprise services. Alongside the trend toward electronic invoicing, "Advance Card" will connect financial institutions to empower enterprise clients, creating SME financial service solutions based on scenarios, card transaction data, enterprise big data, and intelligent risk control.
Jefferson Chen, co-founder and CEO of ADVANCE.AI, said: "Our primary goal is to continuously provide more valuable services to our clients. Since our founding, ADVANCE.AI has been rooted in technology R&D, constantly refining our solutions and enhancing our ability to serve clients. Following this funding round, we will continue to deeply explore the market, with AI at our core and in line with RPA trends, continuously introducing the most advanced algorithms and models to bring AI recognition, AI anti-fraud, and AI credit solutions to more markets across the Asia-Pacific region. At the same time, we will continue to advance intelligent transformation in finance, social networking, O2O, and other industries, driving industrial upgrading and social progress."
Chang Chen, founding partner of Gaorong Ventures, stated: "Emerging markets represented by Southeast Asia still contain tremendous opportunities today, particularly in technology and new consumption. ADVANCE.AI has consistently adhered to its vision of intelligence-driven progress, building business scenarios and continuously creating value for all types of clients. The company has been deeply rooted in overseas markets for many years, establishing professional management systems in cross-regional resource coordination and local team development, truly achieving an efficient combination of globalization and localization. Gaorong believes that with its deep accumulation and core technologies, the ADVANCE.AI team will continue to help clients in various regions achieve intelligent transformation of traditional businesses, and further deliver more value to local consumers."
YITU Claims Another World Championship, This Time in "Voiceprint Recognition"!
