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April 6, 2022

Gupshup buys Singapore’s Active.Ai to enhance offerings for banks

US-based conversational messaging platform Gupshup has acquired conversational AI platform Active.Ai used by banks and fintechs.

The financial value of the deal was not disclosed.

Active.Ai’s acquisition will Gupshup enhance its customer experience (CX) offerings for the BFSI customers.

The acquired firm is headquartered in Singapore and offers Conversational Banking as a Service (CBaaS) platform to BFSI customers across 43 nations.

Active.Ai is said to have enabled over 300 million user interactions, managed over 30 million service requests, and fulfilled over 50 million enquiries.

Its clients include Royal Credit Union, Axis Bank, Kotak Mahindra Bank, HDFC Securities, NIUM, Tonik Bank, Abu Dhabi Commercial Bank PJSC (ADCB) and Qatar Islamic Bank among others.

Gupshup co-founder and CEO Beerud Sheth said: “Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack, giving BFSI customers the tools to create intelligent, frictionless micro conversations with consumers using voice, video and messaging channels.”

Gupshup noted that Active.Ai has also built ties with Microsoft, AWS, TCS, Finastra, EY, PwC and Accenture.

Active.Ai counts Kalaari Capital, Chiratae Ventures, InnoCells, CreditEase, DI, Vertex Ventures and Kstart as its backers.  

Active.Ai co-founder and CEO Ravi Shankar said: “Active.Ai’s conversational engagement platform powers leading financial enterprises across 43 countries. We are excited to partner with Gupshup to help shape the future of conversational engagement in the financial services space.”

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