Singapore headquartered big data and artificial intelligence (AI) focused company Advance.ai is set to open its third office in the country in Mumbai, after establishing offices in Bengaluru and New Delhi five months ago.
The move aims to expand the India operations of the company to boost its fintech and ecommerce businesses, it said in a statement.
With offices in China, the Philippines, Indonesia and Vietnam, the company has most of its operations in the Asia Pacific region, it said.
Its flagship enterprise product Guardian provides services such as online know your customer (KYC) verification, enterprise process automation, risk management and digital lending solutions. The company claims to have recorded a 350% year-on-year growth in the application programme interface and 400% growth in enterprise clients.
Charles Zhang is the country manager for the company in India, where Advance.ai has over 100 clients. He is an alumnus of Stanford University, and co-founded Xiangshui Tech and Shared Sleeping Pod, the statement said.
Coming to recent appointments, the company on-boarded Darshan Shah as the chief advisor for India operations in January, the statement added. He has worked with credit scoring companies TransUnion CIBIL and Experian earlier.
“We’re confident we can bring our technology leadership and local market expertise to accelerate the digital capabilities of India’s banks, financial services, non-banking financial services, retail and ecommerce companies. Our immediate focus is on hiring strong local talent and driving product innovation,” Zhang said.
Founded in 2014 by Chun Dong Chau, Dong Shou and Jefferson Chen, Advance.ai is backed by Chinese and Silicon Valley venture capital firms including GSR Ventures, Gaorong Capital, ZhenFund, Provident Capital and Vision Plus Capital, according to online data library Crunchbase.