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Ascend Money secures USD 195 million funding

Tuesday 9 July 2024 13:10 CET | News

Thailand-based Ascend Money has announced the rise of a USD 195 million funding round in order to expand its footprint in the region of Southeast Asia.

Following this announcement, Ascend Money’s funding round is aimed at optimising its role in Southeast Asia’s fintech sector. The investment was led by Mitsubishi UFJ Financial Group (MUFG) Bank, with additional participation from the Finnoventure Private Equity Trust I fund which is managed by the Krungsri Finnovate Co.

In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

Thailand-based Ascend Money has announced the rise of a USD 195 million funding round in order to expand its footprint in the region of Southeast Asia.

More information on the announcement

Throughout this initiative, the funding round is expected to accelerate the company’s strategy to provide clients and businesses with optimised solutions and financial inclusion in the region of Thailand. At the same time, Ascend Money will continue to provide its network of partnerships with corporations, businesses, and merchants, which will enable broad accessibility to its comprehensive and secure suite of financial services both online and offline. 

Furthermore, the firm will also focus on extending its reach within the Thai customer market and its adept understanding of local financial needs and demands. This process will also prioritise the acceleration and development of digital payments and financial inclusivity. The funding round will also expand its footprint further, as well as optimise financial tools accessibility, and contribute to Thailand’s overall economic growth. 

MUFG’s broader strategy across Southeast Asia will also include previous investments, such as the USD 200 million investment in Akulaku, an Indonesian digital financial platform. This process is expected to broaden the financial institution’s client base in the area and support underserved markets through collaborative efforts in distribution, financing, product development, and technology. 



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Keywords: funding, investment, expansion, payments , online payments, mobile payments, digital payments, ecommerce
Categories: Payments & Commerce
Companies: Ascend Money
Countries: South East Asia, Thailand
This article is part of category

Payments & Commerce

Ascend Money

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