Ascend Money Secures $195 Million to Boost Financial Inclusion in Thailand

Ascend Money, a leading fintech company in Southeast Asia, has raised $195 million in a funding round. The investment will enhance financial inclusion in Thailand by expanding digital financial services, focusing on underserved populations, and promoting economic growth.

Ascend Money, a prominent fintech company in Southeast Asia, has successfully raised $195 million in its latest funding round. The investment, led by major global investors, aims to bolster financial inclusion in Thailand by expanding the reach and capabilities of digital financial services.

Founded in 2013, Ascend Money operates under the True Corporation umbrella and has been at the forefront of providing innovative financial solutions across the region. The company’s flagship product, TrueMoney, offers a wide range of services including digital payments, money transfers, and financial management tools, serving millions of users.

The newly secured funds will be directed towards enhancing the company’s technological infrastructure, expanding its service offerings, and reaching underserved populations in Thailand. Ascend Money’s CEO, Punnamas Vichitkulwongsa, emphasized the importance of this investment in driving economic growth and improving the financial health of individuals and businesses. “Our mission is to empower every Thai citizen with access to essential financial services, fostering an inclusive financial ecosystem,” Vichitkulwongsa stated.

A significant portion of the funding will also be allocated to developing educational programs aimed at improving financial literacy among Thai citizens. These initiatives will equip individuals with the knowledge and skills needed to effectively manage their finances, ultimately contributing to the country’s overall economic stability.

The funding round has garnered attention from a diverse group of investors, reflecting strong confidence in Ascend Money’s potential to make a significant impact in the financial sector. As Thailand continues to embrace digital transformation, the company’s efforts are expected to play a pivotal role in shaping the future of financial services in the country.

With this substantial investment, Ascend Money is poised to further its mission of driving financial inclusion and economic empowerment in Thailand, setting a benchmark for other fintech companies in the region.