# Ascent Business Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ascent-business-technology

- Industry: Financial Services
- Headquarters: Singapore
- Website: www.ascentbusiness.com
- Total disclosed funding: $1.5M
- Latest round: Seed (Sep 15, 2019)
- Investors on record: 1

## About

Based in Singapore, and founded in 2013 by its CEO Kundan Shekhawat, Ascent Business Technology, trading as Ascent, operates as an enterprise software as a service-based firm with a focus on risk and resilience solutions. As of June 2022, the company has a team of 100 employees and a presence across 10 global locations, including India, the US, Canada, the Middle East, Africa, and Singapore. 

Ascent product suite includes AutoBCM which provides the framework, tools, documentation, and indicators that impart business resilience, and required actions are taken based on the noticed indicators. It plays a role primarily in managing an Institution’s operational risk and reputational risk and marginally in managing the associated liquidity risk; AutoRecon aggregates transactions from various systems in order to identify those transactions that do not reconcile, which could trigger liquidity risk first and later credit risk when not resolved. It fits at the intersection of operational risk, liquidity risk, and credit risk management; AutoEscrow supports managing Escrow accounts as per the regulatory and business requirements in several business domains. The solution ensures that the funds are credited to correct accounts of clients purchasing a product or service, and the funds are spent for intended purposes for which Escrow accounts are set up. It provides controls for mitigating fraud risk, which is a subset of operational risk.

## Funding rounds

- Seed, Sep 15, 2019, $1.5M — SterlingForte

## Investors

- SterlingForte (https://capitalatlas.ai/funds/sterlingforte) — Seed