ICFG Limited (formerly Fintech Asia )

What ICFG Limited (formerly Fintech Asia ) does

ICFG Limited (formerly Fintech Asia, also d/b/a InvesCore Financial Group) is a publicly traded diversified financial services group headquartered in Ulaanbaatar, Mongolia, and listed on the Mongolian Stock Exchange under ticker INV. Founded in 2016 by Japanese and Mongolian investors, the group operates six business units spanning non-bank financial institution services (InvesCore NBFI), neo-banking and digital financial services (Pocket), capital market operations, real estate and property management, AI & IT solutions (AILab), and digital insurance. The company targets both individual consumers and businesses across emerging markets in Central Asia, with regional offices in Singapore (20 Collyer Quay) and Guernsey (St Peter Port) supporting international investor relations and Central Asian expansion.

The group's underlying technology is a multi-vertical fintech platform stitched together from its six operating subsidiaries, with neo-banking delivered through the Pocket digital channel and AI/IT capabilities consolidated in the AILab unit. The platform has no disclosed API, SDK, MCP, or third-party integrations infrastructure, and the company maintains no public mobile app, suggesting the technology stack is primarily proprietary and internally facing. The business model is diversified across revenue streams: interest and lending fees from NBFI, transaction fees from Pocket and Capital Market, real estate transaction/management fees, recurring insurance premiums, and professional services revenue from the AI & IT unit. Pricing is not publicly disclosed and is described as quote-based and customized by customer segment.

Go-to-market combines direct digital channels for enterprise clients with self-service onboarding for SMB and consumer segments via the Pocket platform. Distribution is anchored by three offices (Ulaanbaatar HQ, Singapore, Guernsey) and supported by a network of 15 partner firms and 10 institutional investors displayed on the corporate website. The company maintains an investor relations site covering corporate governance, reports, share information, regulatory news, and risk management, but does not disclose revenue, headcount, or detailed financial metrics in the available source material.

Name

ICFG Limited (formerly Fintech Asia )

Legal name

ICFG Limited

Website

https://ic-fg.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

ICFG Limited is a Mongolia-based diversified financial services group operating six business units—InvesCore NBFI, Pocket neo-banking, capital markets, real estate, AI & IT, and digital insurance—serving individuals and businesses across emerging Central Asian markets, listed on the Mongolian Stock Exchange under ticker INV.

Ownership category

akta.pro rank

Product category

Diversified Financial Services

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52), Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159), Investment Advice (6282)

akta.pro primary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Neo-banking services
• Non-bank financing
• Digital financial services
• Capital market services
• Digital insurance products

Headquarters

HQ city

St. Peter Port

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. InvesCore NBFI Revenue: Non-bank financial institution providing financing services to individuals and businesses, generating revenue through interest and lending fees
2. Pocket Digital Financial Services: Digital financial services platform generating revenue through transaction fees and service charges
3. Capital Market Operations: Capital market services including trading and investment products
4. Real Estate Management: Property management and real estate transaction services
5. Digital Insurance: Digital insurance distribution and underwriting services
6. AI & IT Services: Technology services and solutions for financial operations

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

ICFG Limited operates as a diversified financial services group providing neo-banking products and fintech solutions through six business divisions: InvesCore NBFI for non-bank financing, Pocket for digital financial services, Capital Market for investment and trading services, Real Estate and Property Management, AI & IT (AILab) for technology solutions, and Digital Insurance. The group serves individuals and businesses in Mongolia and emerging markets across Central Asia, with headquarters in Ulaanbaatar and offices in Singapore and Guernsey.

Product overview

ICFG Limited operates as a diversified financial services group offering a platform-plus-modules architecture. The core offerings include: InvesCore NBFI (Non-Bank Financial Institution) providing core financing services; Pocket for neo-banking products; Capital Market services; AI & IT (AILab) for technology solutions; Real Estate and Property Management; and Digital Insurance. The group serves individuals and businesses across emerging markets in Central Asia, with operations established in Mongolia in 2016.

Differentiator

Problem solved

Functional benefit

Brands

• InvesCore NBFI: Non-Bank Financial Institution offering neo-banking products and services
• Pocket
• Capital Market
• AI & IT
• Digital Insurance

Products and services

• InvesCore NBFI Non-Bank Financial Institution providing smart financing solutions and neo-banking products to individuals and businesses in emerging markets of Central Asia.
• Pocket Neo-banking product and service offering digital financial solutions including mobile/digital pocket services for consumers and businesses.
• Capital Market Capital market services providing investment and trading solutions through the Mongolian Stock Exchange and related investment products.
• Real Estate and Property Management Property management and real estate investment services for clients in Mongolia and Central Asia.
• AI & IT (AILab) Technology and artificial intelligence solutions segment offering innovative fintech technologies and IT services integrated into ICFG's financial offerings.
• Digital Insurance Digital insurance products and services providing coverage for individuals and businesses in emerging Central Asian markets.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Partner Logos (15 companies shown)minorOthersThe company displays logos of 15 partner companies including technology providers, financial service partners, and business collaborators. Partner ecosystem supports the group's various business units including NBFI, capital market, digital insurance, and AI & IT services.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• GCash: GCash is a leading Philippine digital wallet and fintech platform offering payments, lending, and investment services. Its focus on serving underbanked consumers in emerging Asia is comparable to ICFG's inclusive fintech positioning.
• Nubank: Nubank is a leading emerging-market digital banking platform operating in Latin America. Its model of serving underbanked consumers with digital financial products aligns with ICFG's inclusive fintech positioning for emerging Central Asian markets.
• Jumo: Jumo is a fintech platform providing digital financial services to underbanked consumers in emerging markets across Africa and Asia. Its emerging-market fintech model aligns with ICFG's geographic focus on Central Asian developing markets.
• GoPay: GoPay is an Indonesian digital wallet and fintech platform, part of the GoTo ecosystem. Its emerging-market digital financial services model aligns with ICFG's focus on inclusive fintech solutions in developing Asian markets.

Broad incumbents

• Toss: Toss (operated by Viva Republica) is a Korean fintech super-app offering payments, banking, investing, and insurance. Its diversified financial services platform model is conceptually similar to ICFG's multi-vertical approach of bundling financial services under a single brand.
• KakaoBank: KakaoBank is one of South Korea's largest internet-only banks, offering digital banking, lending, and investment services. While larger and more established, its neo-banking model for consumer digital financial services is comparable to ICFG's Pocket offering and overall digital-first approach.

Direct peers

• Kaspi.kz: Kaspi.kz is a Kazakhstan-based super-app financial services platform offering payments, marketplace, and fintech services across Central Asia. ICFG operates a similar multi-vertical financial group model targeting Central Asian emerging markets, making Kaspi.kz the most direct comparable peer in the region.

Regional players

• ForteBank: ForteBank is a Kazakhstan-based universal bank offering retail, corporate, and SME banking services. As a Central Asian financial services group, it competes in the same geographic region as ICFG's core Mongolia/Central Asia footprint.
• Khan Bank: Khan Bank is one of Mongolia's largest commercial banks, offering retail, corporate, and digital banking services. As a major incumbent in ICFG's primary domestic market, it represents direct competitive pressure on ICFG's neo-banking and NBFI offerings.
• Halyk Bank: Halyk Bank is Kazakhstan's largest universal bank, providing retail, corporate, and digital banking services. It operates in the broader Central Asian financial services market where ICFG is positioned.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/people/InvesCore-Group/61551229648898
• LinkedInlinkedin.com/company/fintech-asia-limited

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICFG Limited (formerly Fintech Asia )