IFC leads $21.4M Series B in AND Global — scaling fintech in frontier markets
The International Finance Corporation (IFC) has led a $21.4 million Series B round in AND Global, a Mongolian fintech bringing microloans and mobile banking to underserved consumers and businesses. By stepping in where traditional banking is limited, AND Global is helping more people take their first steps into the formal financial system and expanding financial inclusion in emerging economies.
The round also included participation from SBI Holdings and Marubeni. The funding will support AND Global’s expansion, enabling the company to scale its platform, enhance its digital lending products, and enter new frontier markets across Asia.
The deal underscores a broader trend: investors are increasingly backing fintech startups in less mature economies, where digital finance adoption is accelerating. For AND Global, IFC’s leadership signals both confidence and a strategic boost, giving the company the resources to grow while advancing financial inclusion in frontier markets.
Source:
A.M.
