Commenting on the transaction, Gustav A Eriksson, CEO of Collectius Group, said the company was pleased to partner with Kiatnakin Phatra Bank to strengthen its liquidity position and thereby increase operational efficiency.
Such a move allows credit to continue to flow freely, which would help the local economy on the road to recovery, he added.
“Following our acquisition of Magnate last year – one of Thailand’s leading debt servicing companies – we are confident of maintaining strong growth momentum in Thailand, where we have expanded our acquisitions from personal loans to financial leasing. and SME lending lately,” he said.
As a Singapore-based fintech pioneer in unsecured debt purchases, Collectius partnered in 2020 with IFC, a member of the World Bank Group, to launch a Distressed Asset Recovery Program (DARP) of $60 million dedicated to the acquisition and resolution of unsecured debt in Indonesia. , the Philippines, Malaysia, Thailand and Vietnam.
The DARP has enabled banks to offload $30 billion of NPLs and facilitates bond standardization for more than 18 million households and small and medium-sized businesses.
Collectius continues to strengthen its position as a preferred partner for selling consumer NPLs in Southeast Asia, using technology and digital strategies to create additional service capacity.
“In 2021, the company doubled its assets under management to $5 billion and saw 53% growth in portfolio volume and revenue respectively,” he added.