FinTech firm AND Global secures $21.4m Series B

August 19, 2025

AND Global, the FinTech company founded in Mongolia, has raised $21.4m in a Series B funding round to accelerate its mission of financial inclusion in the region.

The funding round was led by the International Finance Corporation (IFC), part of the World Bank Group, and AEON Financial Service, a Japanese financial group operating in 11 Asian markets.

Other participants included Marubeni Corporation, SBI Holdings, and Premium Group.

Established in 2017, AND Global provides digital lending services and FinTech solutions aimed at expanding access to finance for underserved individuals and businesses. The company operates 13 subsidiaries and employs around 250 people across offices in Mongolia, Japan, Singapore, the Philippines, and Thailand, with activities in 11 countries.

The new capital will be used to expand its AI-powered solutions and develop new tools for financial institutions supporting micro, small and medium-sized enterprises (MSMEs).

The company also intends to scale its operations across Southeast Asia.

AND Global CEO Khos-Erdene Baatarkhuu said, “Our journey from Mongolia to the rest of Asia has been nothing short of incredible. This milestone reflects our team’s hard work and passion to make finance more inclusive. With IFC and AEON by our side, we’re more ready than ever to scale our impact.”

IFC resident representative for Mongolia Matthieu Le Blan added, “Mongolia, as the most sparsely populated country, can greatly benefit from digital solutions to expand access to finance and services. By promoting tech entrepreneurship and the digitalization of key services, IFC supports job creation, particularly among women and youth. Our partnership with AND Global is an important part of these efforts.”