_1555990450621.png?format=webp&height=120&width=120){kind=logo}
About Ascend
Ascend is a venture capital firm founded in 2015. It is primarily based out of Din Daeng, Thailand. As of Jul 2016, Ascend has invested in 10 companies. It primarily invests in Series B round in Thailand based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and FinTech. Most recently it participated in the $***** Series B round of Omise Overall, Ascend portfolio has seen 1 unicorn and 1 acquisition, namely Omise and Ascend Travel. SBI Investment co-invest with Ascend, sharing a substantial percentage of its portfolio.Key Metrics
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B
Portfolio Acquisitions
Portfolio Unicorns
Ascend's List of Top Investments
Ascend has a portfolio of 10 companies, one of which is a Unicorn. Their most notable investments include Omise and TrueMoney.Their portfolio spans across and Thailand. They have invested in Enterprise Applications, Consumer, FinTech and 4 other sectors, across stages such as Series B stage. Here is the list of top investments by Ascend:
1. Omise
Provider of payment solutions and processing technology for businesses and platforms. It offers tools for accepting payments, managing transactions, and payment orchestration. The company provides APIs and software to enable businesses to accept payments. It also offers consultant services for fintech growth and AI-powered efficiency solutions.
Key facts about Omise
- Founded Year: 2013
- Location: Bangkok (Thailand)
- Annual Revenue: $10M - $50M as on Dec 31, 2019
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $222M
- Employee Count: 429 as on Jul 31, 2026
- Investors: Toyota, Mirai Creation Fund and 21 Others
- Latest Funding Round: Series C, May 09, 2022, $*****
- Highlight: Editors' Pick
2. TrueMoney
TrueMoney offers wallet service for in-app payments. The wallet can be used to pay bills, buy prepaid mobile phone packages and transfer money. The wallet can be recharged through multiple channels such as ATM, bank transfer and from selected retail outlets. Customers can also convert wallet balance to cash by transferring money to bank accounts.
Key facts about TrueMoney
True IDC offers colocation, managed services and cloud services. Its colocation services include single rack, quarter rack, half rack, cabinet and private rooms. The data center is carrier neutral and is n+1 redundant in power, cooling, and connectivity. Its managed services are managed facilities, managed network, managed server and managed email. It also offers cloud solutions such as AWS connect, direct connect, cloud consulting and managed office 365. The company has data centers in Thailand, Cambodia and Myanmar.
Key facts about True Internet Data Center
4. EGG Digital
Cloud based platform offering software for SMS marketing. The platform offers software that enables members to create personalized messages and send bulk messages to customers. Members can send OTP, promotional messages, discount codes, etc to customers using the platform. It also offers a system to manage the messages.
Key facts about EGG Digital
5. Pantavanij
Provider of e-procurement platform solutions for large and medium-sized businesses. The platform offers services for buyers, including sourcing, purchasing, and performance evaluation. For suppliers, the platform provides tools for online sales and supply chain finance. Services include supplier verification, online auctions, and data analytics.
Key facts about Pantavanij
Ascend's Investments by Stage
Ascend has made 1 investment in Series B stage with an average round size of $17.5M.Ascend's Investments by Sector
Ascend has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech and Retail. Notably, it has invested in 9 Tech companies, 6 Enterprise (B2B) companies, 4 Saas companies and at least 4 companies focusing on Software.Sector | No. of Investments |
|---|---|
Enterprise Applications | 1 |
FinTech | 1 |
Retail | 1 |
Note: We have considered here, only first round of investments
Ascend's Investments by Geography
Ascend has made most investments in Thailand (1).Ascend's recent investments
Ascend has not made any investment in 2026 so far.Here are the most recent investments by Ascend:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 21, 2016 | Thailand | Series B | 2201 | [+2] |
Unicorns in Ascend's Portfolio
Ascend has 1 unicorn in its portfolio - Omise. The most recent unicorn in their portfolio is Omise which became a unicorn in 2022, 5 years after Ascend first invested in it.Here is a list of unicorns in Ascend's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
62 | Provider of payment solutions and processing technology for businesses and platforms | 2013 | Bangkok | Series C | {qzyrjc |
Acquired companies in Ascend's Portfolio
1 company from Ascend's portfolio has been acquired. The most recent acquisition was Ascend Travel in Nov 2007 by Hotelplan Holding for $*****.Here are Ascend's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 02, 2007 | - | - | 7992 |
Co-investors of Ascend
Over the past 10 years, 14 investors have co-invested in Ascend's portfolio companies. This includes only funds.
- Invested before Ascend: East Ventures, SMDV and 3 others have invested in rounds before Ascend. There is 1 company where East Ventures has invested before Ascend and 1 company where SMDV has invested before Ascend.
- Top Co-investors of Ascend: SBI Investment entered a company along with Ascend.
- Invested after Ascend: A total of 8 investors have invested in Ascend's portfolio after their investments. Top Investors include Krungsri Finnovate (1 company), Global Brain (1 company) and 31VENTURES (1 company).
Recent News related to Ascend
•
Luna Innovations to be Acquired by TJC for $1.39 Per ShareFinancial Times•Jun 26, 2026•Luna Innovations, TJC, Ascend
•
•
Ascend Money bags $195m from MUFG unitBangkok Post•Jun 27, 2024•Ascend Money, MUFG, Ascend, Krungsri Finnovate
•
MUFG to invest $195m in Thai mobile payment operator Ascend MoneyShareandstocks•Jun 26, 2024•Ascend, MUFG, Ascend Money, Krungsri Finnovate
•
•
•
Embroker Selects Ascend to Revolutionize the Insurance Industry Through Transformative TechnologyInsuranceNewsNet•Nov 07, 2023•Embroker, Ascend, Ascend
•
•
•
Ascend Agrees To Acquire Formulated Polymers Ltd.Textile Industries Media Group•Mar 31, 2022•Ascend Performance Materials, Formulated Polymers, Ascend, Ascend
