# Ascend Group Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ascend-group-co

- Industry: Financial Services
- Headquarters: Bangkok, Thailand
- Website: www.ascendcorp.com/
- Total disclosed funding: $150M
- Latest round: Series C (Sep 27, 2021)
- Investors on record: 3

## About

Ascend Group Co., Ltd., based in Thailand, specializes in providing diverse digital services and platforms that enhance customer experiences across Southeast Asia, particularly in fintech, e-commerce, data centers, and blockchain technology.Founded in 2015 and headquartered in Bangkok, Thailand, Ascend Group Co., Ltd. operates in the digital services sector. The company has achieved a notable focus on financial inclusion and technological advancement. In June 2024, the company raised USD 195 mn in a funding round led by MUFG Bank and Krungsri Finnovate, bringing its total amount raised to USD 195 mn. The leadership team includes CEOs Dennis Cavender, Hiroshi Sato, and Tarin Thaniyavarn.Ascend Group Co., Ltd. operates a diverse portfolio of digital services and platforms designed to cater to a broad range of customer needs across Southeast Asia. The company's core offerings include Ascend Money, a fintech platform that provides innovative financial services aimed at underserved and digital consumers; Ascend Commerce, an e-commerce and tech solutions provider serving various businesses; True Internet Data Center (True IDC), which offers data center and cloud services; and Ascend Bit, focused on developing blockchain solutions. These services are tailored to enhance the digital experience for businesses and consumers alike, facilitating financial inclusion, e-commerce capabilities, secure data storage, and blockchain technology integration.In 2022, Ascend Group Co., Ltd. reported a revenue of USD 7,992,221.70 and an EBITDA of USD 11,241.10. The revenue model is structured around service agreements and direct transactions across its various business units, allowing long-term relationships with clients.In June 2024, Ascend Group Co., Ltd. raised USD 195 mn in venture funding to enhance Thailand's digital economy and promote financial inclusion. The company plans to utilize this funding to develop new products and expand into new markets across Southeast Asia. Specific areas targeted for expansion include further technological advancements in fintech and e-commerce solutions, aiming to solidify their presence in the region by the end of 2025.

## Funding rounds

- Series C, Sep 27, 2021, $150M — CPF, Ant Group Co., Ltd., Bow Wave Capital Management

## Investors

- CPF — Series C
- Ant Group Co., Ltd. — Series C
- Bow Wave Capital Management (https://capitalatlas.ai/funds/bow-wave-capital-management) — Series C