Singapore Starts to Attract AI Firms
Swiss Artificial Intelligence firm Squirro has launched its presence in Singapore to target the financial services market in the region.
The artificial intelligence (AI) driven context intelligence and data insights solution provider, Squirro, opened its first office in Asia. The firm will use the new Singapore office as a base from which to target other countries in the Asia-Pacific region.
Squirro’s AI-driven context intelligence and data insights solutions are used by financial services firms globally and currently include organizations such as Investec and Swiss Re. The Singapore office will be Squirro’s fifth opening, with offices in three European locations and its U.S. base in New York.
Renowned Investors
This latest international expansion is the first since Squirro finalized a $10 million Series B funding round in July 2017, with investors including Orange Growth Capital and Salesforce Ventures.
«Opportunities for financial services in the Asia-Pacific region are growing as fintechs take the lead, technology has created an ongoing evolution in the industry, a shift from traditional financial services to financial technology,» said Selz, CEO at Squirro.
Singapore Firmly Established
Now firmly established as the leading Asian fintech hub, Singapore is seeing a steady influx of AI firms and innovators. The coming Fintech Festival in November will also feature several AI initiatives. The private investment firm behind Singapore-based fintech hub Lattice80 also has plans to make the city-state the leading Asian centre for AI startups.
