Singaporean Eureka Scores $20 Million, Plans to Enforce Its Presence in the MENA Region

Singapore’s AI enterprise software company powering mobile operator, just scored $20 million from a Series B round co-led by the Saudi VC Riyad TAQNIA Fund (RTF), British Apis Partners, among others.

Eureka has built a proprietary AI enterprise software platform, Spectrum, that organises mobile telecom data to deliver actionable intelligence. It enables enterprises in industries including banking, insurance, transportation, and FMCG to partner with mobile operators to deliver better services to their customers and acquire millions more.

 “We are excited to have a leading global group of institutional investors join us in our mission to help mobile operators partner with enterprises,” says Eureka CEO Benjamin Soemartopo. “Mobile operators provide the infrastructure for the digital economy, and partnerships with enterprises will enable both to better serve their customers.  Our new investment partners will help us both deliver in our current markets, and complete our global footprint.”

Currently, Eureka is deploying with operators across Southeast Asia, India, and the Middle East with a collective mobile subscriber base of over one billion customers; it is now expanding into Europe and the United States.

“We are very excited to bring Eureka to the Middle East,” says RTF Vice President, Ivo Detelinov.  “Our investment, along with our GCC-wide network, will help Eureka roll out its flagship credit score product across the region. This would create untapped revenue streams for financial institutions and provide financial products to customers who previously were unable to access them due to the lack of a credit score.”