News

Financial Technology

Staff Reporter

, Thailand

Published:

4 months ago

111 views

Photo by Suikotei via Wikimedia Commons. No edits made except for cropping the photo. License: https://creativecommons.org/licenses/by-sa/4.0/

Thai fintech unicorn Ascend Money bags $195m investment

MUFG Bank is the lead investor.

Fintech Ascend Money has secured a $195m combined investment, with Japan’s MUFG Bank as the lead investor.

Finnoventure Private Equity Trust I fund, managed by the Krungsri Finnovate Co., also invested in Ascend Money.

The investment will reportedly help Ascend Money accelerate its plan to provide inclusive financial services for underserved consumers and SMEs, the fintech said in a press release.

Ascend Money is the fintech arm of Charoen Pokphand Group (CP Group), and is Thailand’s first fintech unicorn, achieving the title in 2021.

Ascend Money’s TrueMoney platform offers a wide range of financial solutions, including e-payment, lending, BNPL, investment and insurance. As of end-2023, it has 30 million active users annually in Thailand.

Follow the link s for more news on

Mitsubishi UFJ Financial Group

MUFG Bank

Also Read

Singapore fintech funding down 10% to $208m in Q3

Why banks will be ‘invisible’ by 2030

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit