The series B funding round was been led by PacificBridge Asset Management, an affiliate of US buyout firm TPG Capital and Hong Kong-based merchant bank and asset manager MCM Investment Partners.
Tuesday 09, July 2019
Taiger, an artificial intelligence start-up whose clients include Bank of America, AIA Group and Banco Santander has secured $25 million in funding for its expansion plans, reported Bloomberg.
In a statement, the Singapore-based start-up said that the company’s valuation will reach $110 million after the investment.
The Singaporean government, an anchor investor in Taiger via its SGInnovate organisation, has also committed funds to help boost the company’s growth in its home country.
The AI firm plans to launch its services in South Korea and Japan, and further expand its footprint in the Americas specifically Mexico.
Taiger’s AI solutions use human-like logic to automatically read, understand and extract information, helping companies and government agencies reduce operating costs and optimise processing time.
Sinuhe Arroyo, the founder and CEO of Taiger, said that the start-up expects to keep up its revenue growth momentum by expanding in areas such as the legal sector.
“We expect to close a number of new international clients later this year,” Arroyo.