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Fintech Startup Active.ai Secures $3 Million

Artificial Intelligence based financial service platform Active.ai has now secured $3 Million from the InnoCells, the Venture Capital arm of the Spanish Bank Banco Sabadell.

Acctive.ai runs by the Active Intelligence Pvt Ltd revealed in a statement the transaction is an extension of its funding round of Series A.

The Singapore based form had also secured $8.25 Million in the funding round of Series A which was also co-led by the Creditease Holdings, Vertex Ventures, and Dream Incubator in the year 2017.

Some of the existing investors include the IDG Ventures India, Kalaari Capital now called the Chiratae Ventures also had participated in that round.

The company will now be going to use the fresh capital to help the Banco Sabadell Streamline its costs with the help of methods such as the interface design and task automation that will help improve customer engagement.

The startup which us founded by the Shankar Narayanan, Ravi Shankar and Parikshit Paspulati in the year 2016, the startup uses its Neuro Linguistic and AI programming based solutions to deliver the banking services with the Virtual Assistants.

The company which works with the banks and financial institutions in Malaysia, India, and Singapore is also looking to foray into the US and Mexico by the end of this year.

Source: Active.ai

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