User:Nyamsuren123/sandbox

'''[https://and.global AND Global Pte. Ltd].''' is a Mongolian fintech company, headquartered in Singapore, delivers instantly accessible, highly personalised financial services to under-banked people in untapped markets across Asia. Founded in 2015 by Anar Chinbaatar and a group of internationally recognized mathematicians and software developers. The AND Global product was able to reach the creditworthy poor without collateral, to create the credit scoring history for their customers and to raise their financial education contributing to the Mongolia's economy.

Product
In November 2016 AND Global launched its main product in Mongolia. LendMN is a mobile app-based microlending platform for personal loans. Since it's launch in November 2016, its operation has grown rapidly and has facilitated collateral-free microloans worth $1.9 million. The default rate is relatively low at 1.5% with transaction size average around $70. The application's advantage in comparison to its national traditional banks, that it does not require collateral for its personal and business loans, which is stirring concern over disruption in the industry.

Technology
AND Global sought to fill a gap within Mongolia's fragmented lending system through human interaction and artificial intelligence. Throughout the research, they developed a machine learning-based system that assesses data from conventional informations like banking, income and expense records to unconventional informations like banking, income and expense records. The machine learning-based system, with 98.5 percent loan repayment rate, allows them to assess the likelihood of a prospective loanee making their repayments in time. Lending with its own funds, the company's lending operations turned a profit within two months of commercial launch in April 2017, and in September of 2017 reached 8'000 credit approved active users.

Funding
In April 2016 AND Global raised a $1 million from angel investors. In August company valuation reached $30.8 million, which followed by another round of fundraising. In 2017, the seed round, of $4 million, funded by Mongolian and Japan investors including former Japanese parliament member Takami Yuichi, investor Satoshi Matsumoto and his wife Yasuyo Matsumoto. The company plans to use the new investment to fuel expansion into the Philippines and Japan and develop new technology. AND Global is Mongolia's highest-valued and highest-funded fintech startup company. Typically, such funding raised from primary industries such as mining.