AND Global secures $21.4m Series B led by IFC and AEON

By Vriti Gothi

AND Global has raised $21.4 million in Series B funding round, led by the International Finance Corporation (IFC), a member of the World Bank Group, and AEON Financial Service, a Japanese financial services leader with operations across 11 Asian markets.

The funding represents a landmark achievement, making AND Global the first Mongolian-founded company to reach Series B status. The capital injection will enable the company to further scale its digital financial services, particularly in digital lending and AI-powered FinTech solutions, while advancing its mission of expanding access to finance for the unbanked, underbanked, and micro, small and medium-sized enterprises (MSMEs) across Asia-Pacific.

Founded in 2017 in Mongolia with the vision of bringing digital lending to underserved communities, AND Global has since evolved into a regional solution provider supporting financial institutions across Asia to digitalise more efficiently and effectively. With IFC’s backing part of its global commitment to financial inclusion and digital transformation AND Global is now positioned to accelerate the deployment of next-generation solutions designed to close critical gaps in financial access.

Research from the World Bank indicates that 1.4 billion adults worldwide remain without access to formal financial accounts, while GSMA reports that nearly 345 million of the 400 million micro-enterprises in emerging markets still operate informally. By expanding its AI-driven platform, AND Global aims to directly address these challenges, helping financial institutions serve MSMEs more effectively and foster inclusive growth in Southeast Asia.

Khos-Erdene Baatarkhuu, CEO of AND Global, 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.”

With this latest funding, AND Global is poised to drive the next wave of digital transformation in Asia’s financial ecosystemem, powering institutions, enabling entrepreneurs, and advancing financial inclusion at scale.