Active.Ai raises $8.25 mn from Vertex Ventures, others

Singapore-based fin-tech platform, Active.Ai today said it has raised USD 8.25 million funding led by Vertex Ventures, Creditease Holdings and Dream Incubator.
The series A round also saw participation from existing investors, Kalaari and IDG Ventures India, Active.Ai said in a statement.
The company, which has an innovation lab in Bengaluru, delivers conversational banking services using artificial intelligence (AI).
Vertex Ventures Managing Partner Ben Mathias, Vani Kola (Managing Director at Kalaari Capital) will join Sanat Rao from IDG Ventures India on the company's board of directors, the statement said.
Anju Patwardhan from Creditease will join as a board observer, it added.

Founded in early 2016, Active.Ai is working with banks and insurance companies in India, Malaysia, Singapore and North America.

The company is planning to expand into other verticals like wealth management and securities trading, it said.
There is a 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, Active Intelligence co-founder and CEO Ravi Shankar said.
He added that the funding will help Active.ai scale up and continue to hire talent for the AI team.