Ascend Money has raised US$150 million in its latest Series C financing round, at a valuation of $1.5 billion.
Thailand-based fintech startup, Ascend Money, announced that it has raised US$150 million in a Series C financing round, led by Charoen Pokphand Group. The funding is also supported by Bow Wave Capital Management and returning backer Ant Group. At a valuation of $1.5 billion, the startup is Thailand's first fintech unicorn.
The latest investment will be used to grow its digital wallet application, TrueMoney Wallet, and to expand its digital financial services such as digital lending, digital investments and cross-border remittances across Southeast Asia.
Ascend Money was established in 2013 as an e-payment provider and operates across six countries in Southeast Asia including Thailand, Myanmar, Cambodia, Indonesia, the Philippines, and Vietnam.