Gupshup acquires Active.Ai, a conversational AI platform for fintech

Beerud Sheth, Co-founder and Chief Executive Officer, Gupshup

Gupshup, a company in conversational engagement, announced the acquisition of Active.Ai, a Conversational AI platform used by banks and Fintech firms. The acquisition strengthens Gupshup’s customer experience (CX) solutions for BFSI customers.

What is the market reach of Active.Ai?

Headquartered in Singapore, Active.Ai serves BFSI clients across 43 countries with a Conversational Banking as a Service (CBaaS) platform that helps clients engage millions of consumers. It has enabled over 300 million interactions via voice, video and messaging, managed over 30 million requests and fulfilled 50 million enquiries, with 95% accuracy.

Active.Ai’s marquee customers include the Royal Credit Union and CommFirst Federal Credit Union in the USA, Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank and HDFC Securities Ltd in India, NTUC Income, NIUM and Tonik Bank in South East Asia and Abu Dhabi Commercial Bank PJSC (ADCB), Qatar Islamic Bank and Burgan Bank in the Middle East.

What does Active.Ai bring to Gupshup portfolio?

The company has established strong partnerships with AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC and Accenture. “Using Conversational AI, Gupshup is helping global businesses establish new and exciting ways to engage with consumers in a more natural and contextual manner,” said Beerud Sheth, Co-founder and Chief Executive Officer, Gupshup.

“Active.Ai’s robust CBaaS platform adds vertical depth to our product stack, giving clients the tools to create frictionless micro conversations using voice, video and messaging channels.”

“We are happy to welcome the Acitve.Ai team to the Gupshup family and look forward to driving the next phase of innovations in conversational engagement and commerce.”

“In the conversational economy, business to consumer engagement that combines advanced natural language processing with deep enterprise connectivity is essential. Active.Ai’s conversational engagement platform powers leading financial enterprises across 43 countries,” said Ravi Shankar, Co-founder and Chief Executive Officer, Active.Ai.

“We are excited to work with Gupshup to shape the future of conversational engagement.”

“Active.Ai’s platform is enabling financial institutions around the globe to effectively engage their customers using AI. The merger with Gupshup is a logical next step in their evolution. Together, they can bring advanced omnichannel engagement across messaging, voice and video to enterprise customers,” said Ben Mathias, Managing Partner, Vertex Ventures.

Active.Ai’s investors to date include the following Venture Capital firms and companies; InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, DI and Kstart.