SG AI startup PowerCred raises $1.1m to accelerate expansion

PowerCred, a Singapore-based AI startup focused on transforming unstructured documents for enterprises, has raised US$1.1 million in pre-series A funding led by TNB Aura (Scout Initiative) and Tenity.

The new funding will support regional expansion, product development, and research across sectors like insurance, healthcare, and logistics.

PowerCred said it processes over 1 million documents quarterly for clients in Southeast Asia such as banks, digital wallets, and fintech firms.

The company has launched custom small language models (SLMs) for enterprise use, with its first application aimed at speeding up eKYC onboarding.

PowerCred holds ISO 27001:2022 certification and is recognized by regulators in Indonesia for data security compliance.

The company plans to use the funding to build its team and expand SLM-based AI solutions to more industries.