AND Global

Market position

Positioned as a Mongolian-origin fintech scaling regionally: LendMN is presented as Mongolia's first mobile micro-lending app and first digital wallet, the first Mongolian startup of its kind to list on the Mongolian Stock Exchange, and Mindox as the first Mongolian AI solution to reach Microsoft Azure IP Co-Sell status.

The group combines lending operations proven in its home market with enterprise software sold to third-party lenders, applying AI-based alternative-data credit scoring and modular core lending components rather than collateral-based underwriting.

Technology

The company's founding thesis was that mobile data could be used to credit-score borrowers excluded by banks. Its stack includes AI-based custom credit scoring, the NIKO AutoML platform, the Looms loan origination and management system, and Mindox, an intelligent document processing product that became available on Microsoft Azure and achieved Microsoft Azure IP Co-Sell status. The alternative ventures arm has developed blockchain-based securities OTC trading systems in Mongolia and researched blockchain-based e-KYC with Digital Platformer and Soramitsu. AND Solutions received ISO/IEC 27001 certification for its information security management system in 2021.

Go-to-market

Growth outside Mongolia is pursued largely through partnerships and enterprise agreements with regional financial institutions and corporates, including AEON Credit Service Indonesia, AEON Thana Sinsap in Thailand, Esquire Financing in the Philippines, Toyota Financial Services Vietnam, iConext in Thailand, Unicapital, Global Trust Networks in Japan, Kyobo LifePlanet in Korea, Marubeni America and SC Ventures, alongside a cloud partnership with Microsoft.

Consumers and micro, small and medium enterprises in Mongolia who lack access to collateral-based bank credit, and banks, non-bank financial institutions, consumer finance and captive auto-finance companies in Southeast Asia and other markets.

Geography

Founded in Ulaanbaatar, Mongolia and headquartered in Singapore, with stated activity in more than 11 markets including Mongolia, the Philippines, Thailand, Indonesia, Vietnam, Japan, Korea and the United States.

History

The company began in Ulaanbaatar in 2015 on the thesis that mobile data could credit-score borrowers banks ignore. In 2017 it incorporated in Singapore with US$5M in seed funding and launched LendMN. LendMN listed on the Mongolian Stock Exchange in 2018 and obtained an NBFI licence in the Philippines. A US$1.5M investment from Rhinos Asset Management followed in 2019, a strategic partnership and equity investment from Marubeni Corporation in 2020, and a US$15.3M Series A in 2021. Enterprise software was spun out as AND Solutions in 2023, and in 2025 the group closed a US$21.4M Series B while LendMN secured a US$20M facility from Lendable.