Digital identify verification startup ADVANCE.AI announced that its credit bureau unit has raised $4 million in seed funding, while Indonesian distributed solar developer Hijau has secured investment from Clime Capital.
ADVANCE.AI’s Credit Bureau Philippines raises $4m
Singapore-based ADVANCE.AI has announced that its credit bureau unit, ADVANCE.AI Credit Bureau Philippines (ADVANCE.CBP) has raised $4 million in seed funding.
The round was anchored by Archipelago Capital Partners, a Southeast Asia-focused private equity firm. ADVANCE.AI said it will use the fresh capital to launch its credit bureau operations in the Philippines.
ADVANCE.AI is a provider of digital identity verification, compliance, and risk management solutions. In the Philippines, its clients include banks, multi-finance companies, and cooperatives. The company said ADVANCE.CBP will serve fintechs, digital banks, and thrift banks in the Philippines by providing credit information and data.
Archipelago Capital Partners CEO Jovavsky Pang said the launch of ADVANCE.CBP is a “significant step” in advancing the Philippine financial services ecosystem. “This investment fits perfectly with our ethos of driving sustainable growth across Southeast Asia, creating value for local businesses and investors alike,” added Pang.
Climate Capital backs Indonesian solar developer Hijau
Singapore-based VC firm Clime Capital has invested in Indonesia-based distributed solar developer PT Investasi Hijau Selaras (Hijau), according to an announcement.
Financial details of the investment, which was carried out through Clime Capital’s Southeast Asia Clean Energy Fund II (SEACEF II), were not disclosed.
The investment will support the build-out of Hijau’s pipeline, per the announcement. Hijau, established in 2017, provides solar energy solutions for commercial and industrial customers. It is actively expanding its project pipeline to meet the growing demand for sustainable energy.
“Their [Clime’s] support will help us expand our green energy solutions across Indonesia while staying true to our focus on quality, safety, and sustainability,” said Hijau president director Victor Samuel.
