- Singapore regtech startup Transparently.AI secured an investment from Franklin Templeton.
- This brings Transparently.AI’s valuation to around $20 million.
- The partnership is a milestone for the firm’s mission of promoting financial transparency.
Templeton funds’ Transparently.AI
Singapore-based Transparently.AI, a regtech company utilizing AI to combat accounting manipulation and fraud, has secured an undisclosed investment from global investment firm Franklin Templeton.
This move brings the startup’s valuation to around US$20 million and marks a significant step in its fight for financial transparency.
The investment coincides with Transparently.AI‘s acceptance into Franklin Templeton’s FinTech Incubator program, offering crucial mentorship, guidance, and access to the program’s network of startup professionals and office spaces in Singapore and California.
Startup joins templeton incubator
This comes on the heels of a US$3 million pre-Series A funding round fueled by Move Asset Management.
Founded in 2021, Transparently.AI leverages AI-powered solutions to scan corporate balance sheets for signs of manipulation and fraud.
This innovative approach addresses a critical challenge in the finance world, where accurate financial reporting is paramount.
AI vs. financial fraud
Previously, the company secured US$1 million in seed funding, highlighting early investor confidence in its technology and mission.
Transparently.AI is primed to scale its operations and refine its AI-based solutions.
This strategic partnership marks a significant milestone for the regtech company, solidifying its commitment to financial transparency and positioning it as a formidable force against financial crime.
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