Open alliance among Marubeni, SBI and AND Global following the closing of AND Global’s US$15.3 million Series A financing, led by Marubeni and SBI
AND Global Pte. Ltd. (‘we”, “our” or “AND Global”) closes US$15.3 million Series A funding round. Marubeni Corporation (“Marubeni”) and SBI Holdings, Inc. (“SBI”) led the Series-A financing, joined by our existing investor, Techstars Ventures. The Series A financing has been closed in two parts, including (a) Marubeni’s strategic equity investment made in December 2020, and (b) SBI’s recent investment of US$5 million. Whilst our strategic partner, Marubeni, is a majority Japanese conglomerate with over $60 billion in revenue, 40,000 group employees and business activities spanning over 15 diversified business divisions, SBI is a major internet-based financial conglomerate with over 30 million customers, 290 subsidiaries and 9,000 employees (as of the end of March 2021) across the world. AND Global is a cutting-edge technology startup, headquartered in Singapore. With our proprietary “fintech-as-a-service” software (“FaaS Software”, including AI-powered credit scoring system, digital wallet, e-commerce, e-payment and digital lending systems), AND Global enables its clients to seamlessly integrate financial and alternative financial technology solutions into their businesses. Since 2017, AND Global, through its operating subsidiaries, has successfully piloted the FaaS Software in Mongolia and Philippines, where over 430,000 customers and 4,000 merchants use our digital wallet to make and receive e-payments (worth over US$35 million), and over 180,000 customers use our digital lending system to receive loans (worth over US$320 million). Following the strategic investment by Marubeni in December 2020, AND Global has started working with diverse clients (including financial institutions in Indonesia, Cambodia, Philippines and Australia) in the Asia-Pacific region to integrate fintech solutions into their businesses. SBI is an internet-based financial conglomerate headquartered in Tokyo, Japan. SBI’s main business segments include financial services and asset management. As part of its financial services segment, SBI engages in the provision of comprehensive financial services, including banking, securities brokerage and insurance services. Using our FaaS Software, AND Global will strive to create synergy with SBI’s financial services subsidiaries and investee companies across the world and assist them in diversifying their products and improving the efficiency of their business processes. As a leading-edge corporate group committed to the continual creation of innovative businesses, SBI invests in core 21st century industries, including fintech, AI, blockchain and quantum computing. With the new investment, as a 21st century technology solution provider, AND Global will collaborate with SBI (and its investee technology companies) in co-creating and co-implementing 21st technology solutions by leveraging our proprietary FaaS Sofware and future innovative, cutting-edge technologies, including digital IoT wallet; blockchain-based financial products and infrastructure, service marketplace platform etc. Following the closing of US$15.3 million Series A funding, Marubeni, SBI and AND Global are creating mutually beneficial “open alliance” to closely work towards: (a) the testing and implementation of AND Global’s existing and prospective financial and alternative financial technologies in the Asia-Pacific region; (b) the joint identification of business opportunities in the areas of common interest; and (c) the co-creation of sustainable value for our open alliance members’ network clients and companies, by assisting them to adopt 21st century innovative, cutting edge technologies into their businesses. Today, we look forward to working together with Marubeni and SBI in continue co-building mutually beneficial open alliance in the world.
<About AND Global Pte. Ltd.>
Founded: November 2017
Established in 2017, AND Global is a fast growth startup that is firmly set on the trajectory to provide inclusive financing and innovative technologies to global markets. AND Global piloted in Mongolia through its subsidiary LendMN NBFI JSC, introducing accessible financial services based on a mobile application running on proprietary in-house AI-based technology. To further scale across new geographies, AND Global also runs similar operations in the Philippines. The company aims to expand its business globally through the implementation of FaaS, pivoting on technological innovations.