The fintech division of Charoen Pokphand Group, Ascend Money, is well-established in seven Southeast Asian nations.

A range of financial services, including as e-payment, lending, BNPL, investing, and insurance, are available through the company's TrueMoney super app.

"MUFG considers the Asia Pacific region to be its second home market, and as part of our commitment to this region, we have been making strategic investments in leading digital finance players in the region," says Yasushi Itagaki, senior managing corporate executive and head of the company's global commercial banking business group. With extensive market penetration in Thailand's consumer segment and a thorough comprehension of its members' everyday payment and financial needs, Ascend Money is a promising fintech operator in the region."

Ascend Money, which has 30 million active users in Thailand, provides services to a wide range of consumers by forming strategic alliances with companies, enterprises, and retailers in both online and offline markets.

In 2021, the company established itself as Thailand's first fintech unicorn, reaching a $1.5 billion value thanks to a $150 million investment from Charoen Pokphand Group, Bow Wave Capital Managers, and Ant Group.

The chairman and creator of Ascend Money, Suphachai Chearavanont, see the latest funding round as a major turning point for the company.

"We are confident that Ascend Money's strong growth trajectory, combined with MUFG's expertise and network, will enable us to create a more inclusive and vibrant financial ecosystem to accelerate both regional and local digital transformation, benefiting millions of people and contributing to the country's economic development," according to him.