Active.Ai, a Singapore-based Fintech platform with an innovation lab in Bengaluru that delivers conversational banking through artificial intelligence (AI) on Tuesday announced a USD 8.25 million Series A financing led by Vertex Ventures, Creditease Holdings and Dream Incubator.
Furthermore, Ben Mathias, Managing Partner at Vertex Ventures and Vani Kola, Managing Director at Kalaari Capital will join Sanat Rao from IDG Ventures India on the Company's board of directors, while Anju Patwardhan from Creditease will join as a board observer.
Active-Ai's proprietary AI engine, Triniti, enables financial institutions to have a meaningful engagement with their customers in an intuitive natural format over multiple apertures covering messaging, voice and IOT devices. This full-stack solution has been built ground-up and comprises Machine Learning, Natural Language Processing and Natural Language Generation. Keeping in mind the requirements of financial institutions, the company offers flexibility of deployment: on-premise or in the cloud.
Founded in early 2016, the company is working with banks and insurance companies in India, Malaysia, Singapore and North America and is planning to expand into other verticals like wealth management and securities trading.
"There is very strong need for banks and financial institutions to evolve fast and empower customers with the ability to do transactions as part of their habitual daily micro-conversations. With the fresh injection of funds, Active.ai will scale up and continue to hire talented people for the AI team and focus on building the best enterprise product in the market," said Ravi Shankar, co-founder and CEO of Active Intelligence.