- Quantexa’s growing presence in Singapore represents significant investment in delivering AI-enabled Decision Intelligence (DI) solutions to Enterprises and Government Agencies across Asia Pacific
- Quantexa has seen double-digit growth and tripled employee base in Asia Pacific region since Series D announcement in 2022
- The new location in Singapore reinforces Quantexa’s global network and brings the company closer to its clients and partners in the region
Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced the opening of its new Asia Pacific Headquarters based in Tower 1 of Marina Bay Financial Centre (MBFC) in Singapore. The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia. Further expansion into Hong Kong is expected in 2024.
The organization’s decision to set up its regional headquarters in Singapore was solidified by the country’s commitment to attracting investment, talent, and technology. Establishing Quantexa’s new office locally complements the government’s Smart Nation initiative which outlines its plan to invest up to SGD500 million in Artificial Intelligence (AI) research and development.
Economic forecasts for Southeast Asia predict that it will remain one of the fastest growing regions for years to come. Additionally, over the past 12 months, Quantexa has seen significant demand in the region as local banks and government agencies put an increased emphasis on detecting and preventing financial crime as the number of large-scale money laundering operations in region have risen, costing victims abroad billions of dollars[1]. Recently, Singapore authorities have taken measures to ensure that financial institutions scrutinise monetary flows with city state managed assets valued at USD4 trillion[2].
Quantexa’s regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its Decision Intelligence Platform in the banking, insurance and telecommunications industries, as well as the public sector. The opening comes after Quantexa recently completed its Series E Funding Round led by GIC Singapore, valuing the company north of $1.8 billion, and announcing a $155 million investment to fuel global artificial intelligence advancements.
Today, Quantexa will host an event to showcase local technology innovation and partnerships at The National Museum of Singapore. Quantexa CEO Vishal Marria will be joined by esteemed industry leaders from GIC, Singapore’s Digital and Intelligence Service (DIS), and Standard Chartered Bank for a panel discussion on “Charting New Pathways for AI Innovation.”
Vishal Marria, CEO and Founder, Quantexa, said: “Quantexa has seen 90% revenue growth and we have nearly tripled our team size in the Asia Pacific region since our Series D announcement. With today’s announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region.”
Choo Yong Cheen, Chief Investment Officer of Private Equity, GIC, said: “We are pleased to see Quantexa establish their new regional headquarters in Singapore as part of their expansion efforts in Asia. As Quantexa continues to benefit from increasing regulatory emphasis on compliance and demand for AI capabilities in data management, we remain confident in the company’s growth potential.”
Jinghua Guo, Chief Digitization Officer, The Digital and Intelligence Service, added: “The Digital and Intelligence Service views AI as a mission-critical capability for the Singapore Armed Forces to safeguard the sovereignty and security of Singapore. We have always worked closely with other technology partners in government to build cutting-edge AI capabilities for defence. But beyond this, we need to harness the rapid innovations from commercial companies as part of our AI portfolio to address our operational needs more effectively. Therefore, we are interested to further explore how cutting-edge solutions from technology leaders like Quantexa can help us succeed in our mission.”
Sean Coppinger, CIO, Standard Chartered Bank, said: “We are thrilled that Quantexa is expanding its presence here. Since 2018, we have worked closely with Quantexa to use AI-enabled data matching capabilities to get a complete view of our customers and their transaction networks. This has helped us raise the bar on how the industry detects fraud and fights financial crime.”
The Singapore Headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.
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