ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Finance

SBI invests in AI-powered microlender serving Mongolia

AND Global to expand app-based financing to Cambodia and beyond

A rider at the Genghis Khan Statue Complex near Ulaanbaatar: Roughly 30% of Mongolia's population is registered on AND Global's microfinancing app.   © Reuters

TOKYO -- Japanese financial group SBI Holdings has taken a stake in Singapore-based fintech startup AND Global, which provides microloans in Mongolia via its smartphone app.

SBI took part in the startup's $15.3 million private placement round through an investment unit in Singapore.

AND Global calculates borrowers' creditworthiness using artificial intelligence so it can offer small-scale, unsecured lending starting at just tens of dollars. The Japanese group will help AND Global extend its services to Cambodia, where the startup will partner with SBI's local banking unit.

The companies also will work with trading house Marubeni, one of AND Global's investors, to expand into other Asian markets enjoying growing demand for digital financial services.

AND Global, founded in 2017, operates a development hub in the Mongolian capital of Ulaanbaatar. Its microfinancing app has roughly 930,000 registered users in the country, equivalent to about 30% of the total population, tapping rising demand for smartphone-based financing over more conventional options like credit cards.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more