AIRA Factoring

What AIRA Factoring does

AIRA Factoring Public Company Limited (AF) is a Thai factoring and credit services company listed on the Stock Exchange of Thailand under ticker AF. Founded in 1995 and headquartered in Bangkok, the company specializes in converting trade receivables into working capital for Thai SMEs that lack collateral for traditional bank financing. Its core offering is a Factoring Loan that advances up to 90% of invoice value within 24 hours, supplemented by Supplier Financing, Long-term Loans, and Promissory Note (PN) Loans, alongside affiliated-company products including operating leases, hire-purchase, sale-and-leaseback, and personal credit cards.

The company delivers its services through a hybrid of relationship-based direct sales for enterprise customers and three digital platforms: Online Factoring (online.airafactoring.co.th) for digital applications, E-Factoring via TAS Connect (aira.tasconnect.app) for general invoice sales, and E-Factoring AFP (efac.airafactoring.co.th) for accounts-payable financing under supply-chain programs. Its technology differentiation lies in transaction-based underwriting rather than collateral assessment, supported by an NEC Thailand MOU signed in 2024 for IT modernization. Recent strategic emphasis includes the AF Green Project for clean-energy/recycling SMEs (Feb-Dec 2024), TGO-certified Scope 1-3 carbon footprint reporting, and ESG-linked lending.

AF's business model is a yield-based receivables model: it earns primarily interest income from purchasing trade receivables at a discount (87.29M THB of 126.45M THB H1 2024 revenue), plus fee/service income and interest on other loans. Revenue grew 6.65% YoY in H1 2024 to 126.45M THB on total assets of 2,322.15M THB, with factoring receivables representing 75.1% of assets. Its customer base spans Thai SMEs in manufacturing, import/consumer goods, medical textiles, software services, and other verticals, with large public companies, government agencies, and modern trade chains acting as Sponsor guarantors. AF is a founding member of the Thai Factors Association, and its CEO serves as TFA President.

Name

AIRA Factoring

Legal name

AIRA Factoring Public Company Limited (บริษัท ไอร่า แฟคตอริ่ง จำกัด (มหาชน))

Website

https://airafactoring.co.th

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

AIRA Factoring (AF) is a Bangkok-based, SET-listed financial services company that converts trade receivables into working capital for Thai SMEs through factoring loans, supplier financing, and digital e-factoring platforms, supported by large-buyer Sponsor guarantees.

Ownership category

akta.pro rank

Product category

Factoring & Receivables Financing

NAICS

Other Nondepository Credit Intermediation (52229), Activities Related to Credit Intermediation (5223)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Invoice Financing, Factoring & Receivables Management (FSAGAJAB)

akta.pro secondary industries

Receivables Finance (Factoring, Invoice Discounting, Forfaiting) (FSABAHAD), Invoice Financing & Factoring (FSAKAGAC)

Keywords

• Factoring services
• SME lending
• Receivables financing
• Supply chain finance
• Working capital loans

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Receivable Purchases: Primary revenue stream from purchasing trade receivables/invoices at a discounted rate, providing immediate cash to businesses while collecting payment from the debtor at maturity.
2. Fee and Service Income: Revenue from processing fees and service charges for factoring, supplier financing, and other credit services.
3. Interest Income from Other Loans: Interest income from long-term loans and promissory notes (PN) for working capital and business expansion purposes.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

AIRA Factoring Public Company Limited provides factoring and receivables-backed lending to Thai SMEs. Its core offering converts trade receivables and invoices into immediate working capital, advancing up to 90% of invoice value typically within 24 hours, with credit decisions based on actual trade transactions rather than fixed-asset collateral. The product portfolio spans factoring loans, supplier financing, long-term loans and promissory-note (PN) loans, supported by three digital platforms (Online Factoring, E-Factoring on TAS Connect, and E-Factoring AFP for accounts-payable financing).

Product overview

AIRA Factoring Public Company Limited (AF) operates as a diversified financial services company offering a portfolio of credit products and digital platforms. The core offering is the Factoring Loan service, which converts invoices into immediate working capital. The company provides four main financial product lines: (1) Factoring Loan, (2) Supplier Financing, (3) Long-term Loans, and (4) Promissory Note (PN) Loans. These are complemented by a suite of affiliated-company credit products including operating leases, equipment leasing, hire-purchase, project financing, personal credit, employee welfare loans, sale-and-leaseback, and cash cards. Digital service delivery is handled through three online platforms: Online Factoring for application submission, E-Factoring (via TAS Connect) for general invoice transactions, and E-Factoring AFP for the Account Payable Financing program. Additionally, AF has launched AF Green Project as a special ESG-linked financing initiative for environmentally-friendly businesses.

Differentiator

Problem solved

Functional benefit

Brands

• Online Factoring: Online platform for applying and submitting factoring documents digitally
• E-Factoring
• AF Green Project
• Exclusive PN

Products and services

• Factoring Loan (สินเชื่อแฟคตอริ่ง) Core factoring product that converts trade receivables/invoices into immediate working capital. Customers can receive up to 90% of invoice value with quick approval and same-day cash receipt, using credit assessment based on actual trade transactions rather than fixed-asset collateral.
• Supplier Financing (สินเชื่อ Supplier Financing) Working capital financing for suppliers selling goods or services to large buyers ("Sponsors") partnered with AIRA Factoring. The Sponsor acts as guarantor or reference party, allowing suppliers to obtain financing on the strength of the buyer's credit.
• Long-term Loan (สินเชื่อเงินกู้ระยะยาว) Long-term financing for investment in fixed assets or refinancing from other financial institutions, supporting business expansion and capital investment.
• Promissory Note Loan (PN) (สินเชื่อตั๋วสัญญาใช้เงิน) Short-term revolving credit facility using promissory notes as collateral for working capital and business expansion, including Exclusive PN for existing good-credit customers not exceeding 180 days.
• Online Factoring Online digital platform hosted at online.airafactoring.co.th for submitting factoring applications and supporting documents digitally.
• E-Factoring (TAS Connect) Electronic factoring system on the TAS Connect platform (aira.tasconnect.app) that enables general customers to submit and sell their bills online.
• E-Factoring AFP (Account Payable Financing Program) Electronic factoring platform at efac.airafactoring.co.th for supply chain financing under the Account Payable Financing Program, where large buyer Sponsors guarantee or support SME suppliers.
• AF Green Project Special loan program supporting environmentally-friendly entrepreneurs in clean energy and recycling businesses, launched as a green financing initiative available during 2024.

Quantifiable outcome

• Converts invoices to cash within 24 hours
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• โรงเรียนบ้านไทยสมบูรณ์ จังหวัดสุรินทร์minorOthers · 13 March 2569AF provided educational scholarships, learning equipment, sports equipment, and essential supplies to students at Ban Thai Somborn School, Surin Province on March 13, 2029, as part of ESG social development initiatives.
• Central Pattana (เซ็นทรัลพัฒนา)minorGTM or Marketing Partner · 12 November 2568AF participated in Central Pattana Vendor Day 2025 (East) at Central Rayong on November 12, 2028. The event provided networking opportunities with suppliers and partners of Central Pattana in the Eastern region, with AF presenting its financial products to local entrepreneurs and SMEs.
• Thai Factors Association (TFA)coreStrategic or Co-development Partner · 17 May 2567AF, as a member of TFA (one of 12 member companies representing 60-70% of the Thai factoring market), participates in industry seminars, BOI-organized events, and advocacy for SME financing. The CEO of AF, Mr. Akkarawit Suksai, serves as President of TFA.
• NEC ThailandcoreTechnology or IntegrationAF signed MOU with NEC Thailand for cooperation in information technology and communication systems. The partnership aims to enhance business capabilities through modern and secure IT systems, improving service quality and creating future business opportunities. AF has implemented NEC's digital solutions for credit facility management since 2024.
• Thailand Greenhouse Gas Management Organization (TGO)minorOthersTGO certified AF's Corporate Carbon Footprint (CFO) for 2025, covering Scope 1-3 emissions, demonstrating AF's commitment to environmental sustainability and ESG principles.
• โรงเรียนสุขุมนวพันธ์อุปถัมภ์minorOthersAF donated sports uniforms to football athletes at Sukhumvanitapatam School on February 27, 2029, supporting youth development through sports activities.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Fundbox: US SMB-focused working capital platform providing invoice-based advances and lines of credit. Comparable to AIRA in targeting small businesses needing short-term cash flow from receivables, though digital-native rather than hybrid bank-style.
• Bibby Financial Services: One of the world's largest SME-focused factoring and invoice finance providers. Highly comparable to AIRA Factoring in core activity — purchasing receivables from SMEs to provide working capital — though operating at global scale rather than Thailand-only.
• C2FO: Global working capital marketplace that connects businesses via invoice discounting and early payment. Comparable to AIRA's E-Factoring AFP supply chain program in enabling supplier-buyer working capital flows, though operating as a marketplace.
• Liquid Capital: Global network of independent factoring companies focused on SME receivables financing. Comparable to AIRA in pure-play factoring model and SME target market, though operating through franchise offices across multiple countries.
• International Factors Group (IFG): Global network of factoring companies with operations in multiple countries including Thailand. Closest direct international comparable to AIRA in pure-play receivables financing, with similar SME focus and member-firm governance.
• Taulia: Supply chain finance and dynamic discounting platform for large buyers and their suppliers. Directly comparable to AIRA's Supplier Financing and AFP products, which connect SME suppliers to large Thai buyer 'Sponsors' for early payment.
• BlueVine: US-based online invoice factoring and SMB working capital provider. Comparable to AIRA in digital-first delivery of invoice-based financing to small businesses, though serving US SMBs rather than Thai SMEs.
• MarketFinance: UK-based invoice financing and SMB lending platform. Comparable to AIRA in providing invoice discounting and factoring products to small businesses, though focused on UK market rather than Thailand.

Broad incumbents

• Krungthai Bank: One of Thailand's largest state-linked banks offering supply chain finance and SME lending products. Competes with AIRA in Thai SME working capital financing but as a full-service depository institution with broader product suite and lower cost of funds.
• HSBC Invoice Finance: Large global bank's invoice finance arm offering factoring and receivables financing across multiple markets. Comparable capability to AIRA's factoring business but as part of a much broader banking group with cheaper funding and larger balance sheet.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookweb.facebook.com/airafactoring
• LinkedInlinkedin.com/company/aira-factoring-public-company-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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 AIRA Factoring