07 August 2024
Marubeni Corporation and Premium Group Co., Ltd. have joined as strategic partners with AND Global’s subsidiary AND Financing Corporation, endorsing Mongolian tech expertise with most of the startup’s technology resources based out of Mongolia.
PHILIPPINES: Leading fintech company AND Global’s subsidiary, AND Financing Corporation (AFC), has today announced its strategic alliance with Marubeni Corporation, a major trading and investment business conglomerate, and Premium Group Co., Ltd., an integrated car service provider, to empower etomo, an inclusive digital lending. The strategic alliance aims to strengthen the platform’s position in the rapidly evolving consumer finance market in the country. AND Global is a leading fintech company that has provided integrated fintech solutions to promote financial inclusion across Southeast Asia. Headquartered in Singapore, the majority of the startup’s technology resources are based out of Mongolia and the strategic alliance with global enterprises enhances the company’s position as a fintech expert and the country’s technological influence globally.
Marubeni and Premium Group have committed to this partnership with AFC, bringing new capital injections. The collaboration brings together AND Global’s advanced data analysis and fintech solutions, Marubeni’s broad business experience and networks in the Philippines, and Premium Group’s extensive expertise in consumer finance. The alliance will see the launch of further capabilities for etomo in the Philippines and aims to enhance the service’s awareness in the country, expand its customer base through local partnerships, and further develop cutting-edge digital financial services.
AND Global’s role will be to provide advanced data analytics and fintech solutions to power etomo. The platform currently offers the etomo Term Loan and the plan is to launch the etomo Revolving Loan capability, offering greater flexibility in monthly amortization and schedule of payments. These collateral-free and competitive interest loans and credit are intended for salaried workers and their families to help address their financial needs, such as medical expenses, tuition fees, utility bills, and more. Powered by machine learning and Artificial Intelligence, etomo delivers these financial products through its App, accessible through smartphones anytime, anywhere, making the loan application fully digital and with a quick turnaround time.
Commenting on the acquisition, Khos-Erdene Baatarkhuu, CEO of AND Global, said: “etomo’s vision as a company is to become an essential partner to Filipino society by providing innovative financial products and services. We are delighted with the strategic alliance with Marubeni Corporation and Premium Group as our combined expertise will help us to continue to deliver high-quality and top-of-the-line financial services. We are fully committed to having a positive social and economic impact on the lives of the Filipino people. Furthermore, this endorsement by renowned companies proves that Mongolian technology knowledge is invaluable to the global business community.”
About AND Global
Founded in 2016, AND Global is a leading fintech company that has created multiple cutting-edge companies that are laser-focused on innovation. Their goal is to promote financial inclusion and promote technological capabilities across Southeast Asia. AND Global provides innovative fintech solutions for financial institutions and non-financial institutions that are struggling with both efficiency and time. The company has 13 subsidiaries and employs 250 people across offices in Mongolia, Japan, Singapore, the Philippines, and Thailand. AND Global provide their fintech solutions in 10 countries. For further information, please visit https://and.global/
About Marubeni Corporation
Marubeni Corporation, founded in 1858, is a leading Japanese trading and investment business conglomerate with a global presence. The company operates in a wide range of industries, including food, agriculture, chemicals, energy, metals and minerals, transportation machinery, pulp and paper, and infrastructure projects. Marubeni’s diverse business portfolio and extensive expertise have established it as a prominent player in international markets. With a commitment to sustainable growth and innovation, Marubeni continuously seeks strategic partnerships and investments that drive economic development and technological advancement. For more information, please visit https://www.marubeni.com/en/
About Premium Group Co., Ltd.
Premium Group Co., Ltd. is a leading integrated car service provider based in Japan, specializing in automobile warranty, maintenance, and leasing services. Established with a commitment to enhancing the automotive experience, Premium Group offers a comprehensive range of services that ensure customer satisfaction and vehicle reliability. The company’s innovative approach to automotive services, combined with its extensive industry expertise, positions it as a trusted partner in the automotive sector. Premium Group continuously strives to deliver high-quality services that meet the evolving needs of its customers. For more information, please visit https://www.premium-group.co.jp/en/
