Ascend Money operates TrueMoney, a digital financial services platform offering e-payments, lending, BNPL, investment and insurance across seven Southeast Asian countries. The company positions itself as Thailand's largest digital financial services provider and became the country’s first fintech unicorn in 2021. TrueMoney serves a broad customer base through an extensive agent network, online and offline merchant partnerships, and reports 30 million active users in Thailand. Ascend Money is part of Ascend Group and is majority‑owned by C.P. Group. The company has stated plans to accelerate inclusive financial services for underserved consumers and SMEs to foster equitable economic growth in Thailand and the region. The recent capital injection is intended to support that expansion and further digital transformation. Ascend Money operates TrueMoney Wallet, a digital payments and financial-services platform that serves more than 50 million users and is supported by about 88,000 TrueMoney agents. The company has a regional presence across six Southeast Asian countries: Thailand, Myanmar, Cambodia, Indonesia, the Philippines and Vietnam. Ascend plans to use new funding to grow the TrueMoney Wallet user base and to expand digital lending, digital investment and cross-border remittances across the region. The platform is positioned around digital payments and broader financial services delivered via its e-wallet and agent network. Ascend was founded in 2013 by Chairman Suphachai Chearavanont and is co-led by Co-Presidents Monsinee Nakapanant and Tanyapong Thamavaranukupt.

Total raised

$345M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2024