Ascend Money secured investment from MUFG to accelerate digital financial inclusion in Thailand
Summary
The investment will help Ascend Money provide financial services for underserved consumers and SMEs, with a focus on innovation and inclusion., /PRNewswire/ Ascend Money, homegrown fintech company, and Mitsubishi UFJ Financial Group, Inc. (MUFG), have announced that MUFGs consolidated subsidiary, MUFG Bank, Ltd., as a lead investor, together with the Finnoventure Private Equity Trust I fund managed by Krungsri Finnovate Co., Ltd. have made a combined investment of in Ascend Money Co, Ltd.This strategic investment signifies a strong commitment from both organizations to drive the growth of digital finance in . With 30 million active users[1] in , it serves a broad customer base through an extensive network and strategic partnerships with leading corporations, businesses, and merchants in both online and offline landscapes. This robust ecosystem positions Ascend Money to capitalize on the growing trend of digital finance adoption in and the region., Senior Managing Corporate Executive, Head of Global Commercial Banking Business Group at MUFG said MUFG considers the its second home market, and as part of our commitment to this region, we have been making strategic investments in leading digital finance players in the region. Ascend Money is a promising fintech player in with widespread penetration in the countrys consumer segment and deep understanding of their daily payments and financial requirements. We are confident that Ascend Moneys strong growth trajectory, combined with MUFGs expertise and network, will enable us to create a more inclusive and vibrant financial ecosystem to accelerate both regional and local digital transformation, benefiting millions of people and contributing to the countrys economic development.Source : Ascend Money secured investment from MUFG to accelerate digital financial inclusion in Thailand