ADVANCE.AI's Credit Bureau Philippines (ADVANCE.CBP) secured US$4 million in seed funding from Archipelago Capital Partners to launch credit-bureau operations in the Philippines, the company said on 22 October 2024 from Singapore and Manila.
ADVANCE.CBP had been selected as a Special Accessing Entity through an open tender by the Credit Information Corporation. Target customers include fintechs, digital banks and thrift banks, with a financial-inclusion framing via credit information and data quality. Dennis Martin, chief executive of ADVANCE.CBP and formerly group chief executive of CTOS Digital, said the investment reinforces a shared vision of a more robust credit reporting and scoring infrastructure in the Philippines.
The page cited Philippines clients including Skyro, Inception Technology and Traxion Tech, and restated global customer names such as Standard Chartered, Shopee, CIMB and Home Credit. Parent Advance Intelligence Group investors named included SoftBank Vision Fund 2, Warburg Pincus, Northstar and EDBI. The story is distinct from ADVANCE.AI's later AdvanGuard crypto KYC launch already live on AI-360.
Named-client lists and parent investor names are company statements on the newsroom page.