BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Mitsubishi UFJ Financial Group (MTU) and its subsidiary, MUFG Bank, Ltd., as a lead investor for this round, together with Finnoventure Private Equity Trust I fund managed by Krungsri Finnovate Co., Ltd., a subsidiary of the Bank of Ayudhya, have entered into an investment agreement for $195 million in Ascend Money, a provider of digital financial services in Thailand.
Backed by Charoen Pokphand Group, which is also major shareholder, Ascend Money has established is the country's largest digital payment and financial service provider with 30 million active users.
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