Singapore-headquartered credit scoring platform And Global closed a $15.3m series A round today co-led by diversified conglomerate Marubeni and financial services group SBI.
Returning investor Techstars Ventures filled out the round, which included a December 2020 first tranche backed by Marubeni and a recent $5m investment by SBI.
Founded in 2015, And Global has built an artificial intelligence-equipped financial mobile app which helps users access personal loans and various payment methods. Its lead product, LendMN, focuses on the Mongolian market and helps the underbanked population build their credit scores.
The company raised $2.8m from Rhinos Asset Management for its Mongolia-based subsidiary, And Systems, in November 2018, four months after it joined Rakuten Accelerator, a joint initiative between e-commerce group Rakuten and accelerator operator Techstars.
And Global had completed a $5m seed round in 2017 at a $30.8m post-money valuation. It was raised across a $1m first close in April 2016 and a $4m second tranche 16 months afterwards, the cash coming from unnamed angel investors based in Mongolia and Japan.
