Abacus Digital, a leading fintech firm under SCB X, is gearing up for regional expansion and potential listing on the local stock exchange in its next growth phase. The company’s Chief Executive, Sutapa Amornvivat, shared that Abacus Digital is currently evaluating opportunities in Southeast Asian markets and seeking international partners to facilitate its expansion plans.
**Exploring Regional Expansion Opportunities**
Sutapa highlighted that several foreign investors have expressed keen interest in investing in Abacus due to its impressive growth trajectory over the past five years. In 2024 alone, the company reported a net profit of approximately 200 million baht, marking a significant 40% year-on-year increase. Abacus has been offering digital loan services through its mobile app, Thunder Money, since 2019 and achieved its first profit in 2023. The company is optimistic about maintaining a similar growth trajectory in 2025.
**Empowering Low-Income Earners**
A key focus for Abacus is serving low-income earners, a vulnerable demographic that includes online merchants, freelancers, first-time workers, and farmers. Sutapa emphasized that the company’s robust technological capabilities, particularly in artificial intelligence, have played a pivotal role in driving business growth, combating financial fraud, and ensuring asset quality. With a non-performing loan ratio consistently below 3%, Abacus has outperformed the sector average of 5-7%.
**Future Expansion and Strategic Partnerships**
Looking ahead, Abacus is eyeing a potential listing on the Stock Exchange of Thailand within the next 3-5 years. The company previously raised significant funds through Series A and Series B rounds totaling 1.5 billion baht between 2021 and 2022. While a Series C funding round is on the horizon, the timeline is yet to be finalized. Abacus is actively seeking strategic partners to support its upcoming fundraising efforts.
**Innovative Offerings and Growth Plans**
In response to evolving market needs, Abacus introduced the Abacus TechSuite in 2024, offering e-statement services to business clients. The company is set to expand its digital platform this year to include digital insurance and financial planning services, further enhancing its value proposition for customers.
**Conclusion**
Abacus Digital’s strategic regional expansion plans, coupled with its commitment to empowering underserved communities and leveraging cutting-edge technology, position the company for continued success in the fintech landscape. As Abacus sets its sights on new markets and partnerships, its dedication to innovation and financial inclusion remains unwavering.
So, what do you think about Abacus Digital’s expansion strategy and focus on serving low-income earners? Would you consider investing in a company with such a strong commitment to social impact and technological innovation? Let us know your thoughts in the comments below!