Thailand’s Abacus Digital uses bonds to raise $31 M for business expansion
The FinTech company Abacus Digital Company Limited, which created the digital lending app MoneyThunder in Thailand, has successfully finished its first $31 million bond offering to institutional and high-net-worth investors.
Strong demand was generated by the issuance, according to a statement released by the company on Tuesday. The total subscription value of $31 million greatly exceeded the target.
According to the report, this achievement demonstrates strong investor confidence in Abacus Digital’s robust growth potential and its leadership in innovative digital lending driven by artificial intelligence (AI).
As the company works to become the top FinTech company in the area, the funds will be utilized to grow the business and broaden the loan portfolio in order to support its robust and steady growth.
If this bond issuance is successful, Abacus Digital will be able to maintain its dedication to advancing financial technology and innovation with the goal of improving the standard of living and establishing long-term financial stability for Thai citizens.
“The company successfully issued its first debentures, offering an annual interest rate of 4.60 percent,
“The success of this inaugural bond offering is a clear testament to the confidence investors place in our vision, business model, and performance,” said Tubkwan Homchampa, Management Director and Interim Chief Executive Officer of Abacus Digital.
It has been observed that investors are realizing the competitive advantage of Abacus Digital’s exclusive AI technology, the Abacus Core Technology (ACT) engine, which facilitates precise and instantaneous risk analysis and loan evaluation.
ACT makes it possible for the MoneyThunder application to assess and lend money to people with limited credit, who constitute a segment of the economy that is at risk.
The platform has a real social impact: more than 30% of loan recipients were previously turned down by conventional financial institutions, and more than 50% of users reported higher incomes following funding, which improved their quality of life and lessened their reliance on informal debt.
Additionally, Abacus Digital maintains a non-performing loan (NPL) ratio that is well below the market average (less than 3 percent), demonstrating effective asset quality management.
With over $744 million in total loan disbursements made through the MoneyThunder application over the previous five years, the company has also shown remarkable growth potential.
With more than 4.5 million users, more than 60% of whom are women, MoneyThunder is contributing to the advancement of economic equality, and more than 50% of its users report higher incomes following funding.
