Gupshup has acquired Active.Ai, a financial services-focused conversational artificial intelligence platform, for an undisclosed amount, marking its third acquisition in the past six months. This purchase will enable Gupshup to strengthen its customer experience solutions for the banking, financial services, and insurance (BFSI) sector. The company claims that it has enabled more than 300 user interactions via voice, video, and messaging, managed over 30 million service requests and answered more than 50 million enquiries with 95 percent accuracy. It also has tie-ups with Amazon Web Services (AWS), Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC and Accenture.
Active.Ai’s clients include Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank and HDFC Securities in India, Royal Credit Union, and CommFirst Federal Credit Union in the United States, NTUC Income, NIUM and Tonik Bank in Southeast Asia and Abu Dhabi Commercial Bank PJSC (ADCB), Qatar Islamic Bank and Burgan Bank in the Middle East. The Singapore-headquartered startup counts InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, and Dream Incubator among its investors. The company has raised around $340 million at a valuation of $1.4 billion across two financing rounds from investors such as Fidelity, Tiger Global and others in 2021. It currently has a presence in India, Latin America, Eastern Europe, Southeast Asia, the Middle East, and the United States.