SCB Abacus operates MoneyThunder, a digital unsecured lending application that serves Thailand's underbanked population. The platform uses in-house AI and machine-learning credit models to underwrite loans and provides an automated approval experience with a time to money of 5–20 minutes. As of August 2021 MoneyThunder had close to 5 million application downloads and loans disbursed increased tenfold in 2021 versus 2020. SCB Abacus is the first fintech spin-off in the Thai banking industry, combining resources of Siam Commercial Bank with venture capital expertise to scale alternative lending. The company plans to expand product adoption, strengthen digital infrastructure and underwriting capabilities, recruit talent, and explore wider usage of its data infrastructure across non-financial sectors. SCB Abacus aims to expand financial inclusion through micro-loans and buy-now-pay-later offerings and expects to pursue a Series B by the end of 2022 targeting a fivefold growth in its loan portfolio.

Total raised

$12M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2021