ADVANCE.AI’s Credit Bureau Philippines has secured US$ 4 million in seed funding from Archipelago Capital Partners.
The funding will be used to launch its credit bureau operations in the Philippines, serving fintechs, digital banks, and thrift banks.
The bureau aims to improve financial inclusion by providing high-quality credit information and data.
ADVANCE.CBP was selected as a Special Accessing Entity (SAE) by the Credit Information Corporation (CIC) through an open tender process.
Headquartered in Singapore, ADVANCE.AI is a provider of digital identity verification, compliance, and risk management solutions.
It partners with over 500 enterprise clients across banking, financial services, fintech, payments, retail, and e-commerce sectors.
The company, founded in 2016, is backed by investors including SoftBank Vision Fund 2 and Warburg Pincus and was named ASEAN Fintech winner at the 2023 Singapore Fintech Festival Global Fintech Awards.

“The investment from Archipelago Capital Partners reinforces our shared vision of establishing a credit bureau that not only empowers lenders and borrowers but also strengthens and results in a more robust credit reporting and scoring infrastructure in the Philippines.
This long-term investment will help strengthen and develop a more equitable and inclusive financial ecosystem for all Filipinos,”
said Dennis Martin, CEO of ADVANCE.CBP.
Featured image: (Back row) Robert Feng, Program Director, ADVANCE.AI and Xiaoli Zhang, Investment Director, Archipelago Capital Partners; (Front row) Dennis Martin, CEO, ADVANCE.CBP and Jovasky Pang, CEO, Archipelago Capital