Ascend Money hits USD 1.5 billion valuation with new funding

Wednesday 29 September 2021 13:08 CET | News

Ascend Money, a Thailand-based fintech, has reached USD 1.5 billion valuation following its latest USD 150 million funding, helping deliver its services to more customers.

US-based investment firm Bow Wave Capital Management has contributed to this round, joining Charoen Pokphand Group and Ant Group. The funds will be used to grow the user base of its e-wallet application, ‘TrueMoney Wallet,’ and to expand digital financial services, including digital lending, digital investment and cross border remittances across Southeast Asia. Driving regional financial access and inclusion is the purpose of the company.

Founded in 2013, Ascend Money a fintech company with a regional presence across six SEA countries - Thailand, Myanmar, Cambodia, Indonesia, the Philippines, and Vietnam. The company operates TrueMoney, the leading digital payment and financial service platform, which now serves around 50 million users through its e-wallet application and 88,000 TrueMoney agents.

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Keywords: funding, e-wallet, lending, remittances, financial inclusion
Categories: Payments & Commerce
Countries: Thailand
This article is part of category

Payments & Commerce