About Ascend Money
Ascend Money is a company based in Bangkok (Thailand) founded in 2013 by Suphachai Chearavanont.. Ascend Money has raised $345 million across 3 funding rounds from investors including MUFG Bank, Ant Group and Charoen Pokphand Group. Ascend Money operates in a competitive market with competitors including MoMo, MoneyGram, GCash, Flip and YouTrip, among others.
- Headquarter Bangkok, Thailand
- Founders Suphachai Chearavanont
- Stage Unicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Ascend Money Company Limited
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Annual Revenue
$2.75 M (USD)28as on Dec 31, 2021
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Net Profit
$-7.28 M (USD)-8as on Dec 31, 2021
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EBITDA
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Total Equity Funding
$345 M (USD)
in 3 rounds
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Latest Funding Round
$195 M (USD), Series D
Jun 27, 2024
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Investors
MUFG Bank
& 4 more
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Employee Count
Employee Count
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Funding Insights of Ascend Money
Ascend Money has successfully raised a total of $345M across 3 strategic funding rounds. The most recent funding activity was a Series D round of $195 million completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series D — $195.0M
- First Round First Round
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Series D - Ascend Money | Valuation | MUFG | |
| Sep, 2021 | Amount | Series C - Ascend Money | Valuation | Bow Wave Capital Management , Charoen Pokphand Group |
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| Nov, 2016 | Amount | Seed - Ascend Money | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ascend Money
Ascend Money has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include MUFG Bank, Ant Group and Charoen Pokphand Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Strategic investments in startups are facilitated by Krungsri Finnovate.
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Founded Year | Domain | Location | |
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Provider of full banking services
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Founded Year | Domain | Location | |
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Payment processing and financial services are offered by the company.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ascend Money
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Ascend Money
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ascend Money Comparisons
Competitors of Ascend Money
Ascend Money operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MoMo, MoneyGram, GCash, Flip and YouTrip, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
MoMo is recognized as a leading fintech application in Vietnam, providing diverse financial services.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
App-based & card-linked wallet for consumers
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| domain | founded_year | HQ Location |
App-based wallet services are offered for consumers and businesses.
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| domain | founded_year | HQ Location |
NFC-enabled travel cards and wallets are provided for travelers.
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| domain | founded_year | HQ Location |
Digital wallet
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ascend Money
Frequently Asked Questions about Ascend Money
When was Ascend Money founded?
Ascend Money was founded in 2013 and raised its 1st funding round 3 years after it was founded.
Where is Ascend Money located?
Ascend Money is headquartered in Bangkok, Thailand.
Is Ascend Money a funded company?
Ascend Money is a funded company, having raised a total of $345M across 3 funding rounds to date.
What is the annual revenue of Ascend Money?
Annual revenue of Ascend Money is $2.75M as on Dec 31, 2021.
What does Ascend Money do?
Financial services platform for individuals. Its product includes True Money, an app-based wallet for money transfers and online payments, Ascend Wealth for mutual funds, Ascend Nano for consumer and business loans, and more. App is available on iOS and Android devices.
Who are the top competitors of Ascend Money?
Who are Ascend Money's investors?
Ascend Money has 5 investors. Key investors include MUFG Bank, Ant Group, Charoen Pokphand Group, Krungsri Finnovate, and Bow Wave Capital Management.
What is Ascend Money's valuation?
The valuation of Ascend Money is $1.5B as of Sep 2021.
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