AIRA & AIFUL

What AIRA & AIFUL does

AIRA & AIFUL Public Company Limited is a Thailand-based licensed personal-loan and Nano Finance provider established in December 2015 as a joint venture between AIRA Capital Public Company Limited (30% equity) and Japan's AIFUL Corporation (49.75% equity). Headquartered at CW Tower in Bangkok's Huai Khwang district, the company serves underbanked Thai consumers and micro/small business operators who cannot access formal bank credit due to a lack of documentation, collateral, or formal income records. Its core products are the 'A money' revolving cash card (cash-card loan facility), 'Nano Finance' collateral-free micro-business loans up to 100,000 baht capped at a 33% effective annual rate, and the Benefit Plus Card sub-brand; it also runs a dedicated Nano Finance variant for franchise operators under Chai Si Corporation.

The company operates a hybrid physical-digital distribution model: 45+ A money branches nationwide provide face-to-face origination and customer service, while an iOS/Android mobile application enables self-service account management, payments and loan applications. Cash withdrawal and bill-payment access is delivered through third-party bank channels—Bangkok Bank, Krungthai Bank and Krungsri Bank ATM networks—plus an App-to-App bill-pay integration with Bangkok Bank Mobile Banking launched in October 2023. Underwriting relies on proprietary credit evaluation and borrower-quality monitoring systems developed with AIFUL's 25+ years of Japanese consumer-finance and IT expertise.

AIRA & AIFUL generates revenue primarily through interest income on its lending book (89% of FY2022 revenue), supplemented by transaction fees from loan services and cash withdrawals. In FY2022 the company reported record total revenue of 1,890 million baht (+14% YoY) and net profit of 193 million baht (10.2% net margin), against an 8,000 million baht loan portfolio serving 300,000+ customers. The company filed an IPO in August 2023 with 1,666 million shares for Thailand's mai market, and appointed Kimihiro Omori as CEO in April 2024.

Name

AIRA & AIFUL

Legal name

บริษัท ไอร่า แอนด์ ไอฟุล จำกัด (มหาชน)

Website

https://aira-aiful.co.th

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

AIRA & AIFUL is a Thai licensed personal-loan and Nano Finance provider, serving underbanked individual consumers and micro/small business operators through 45+ A money branches, a mobile app, and bank-ATM cash access, with an 8,000 million baht loan portfolio and 300,000+ customers.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522), Other Nondepository Credit Intermediation (52229)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

Keywords

• Consumer lending services
• Personal loan products
• Cash card services
• Micro business loans
• Nano Finance Thailand

Headquarters

HQ city

Huai Khwang

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest on revolving cash card loans and Nano Finance loans. In FY2022, interest income accounted for 89% of total revenue. Interest rates on Nano Finance products capped at maximum 33% per year (effective rate) including all fees and charges.
2. Fee Income: Various fee income from loan services, cash withdrawal services, and other financial services. Secondary revenue stream supporting the company's operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

AIRA & AIFUL provides personal loan services primarily through revolving cash cards (A money brand) and Nano Finance micro-business loans. The company offers accessible credit to underbanked Thai consumers and small business operators without collateral or formal documentation, with maximum loan amounts of 100,000 baht and capped effective interest rates not exceeding 33% per year. Services are distributed through 45+ branches nationwide, a mobile application, and partner bank ATM networks.

Product overview

AIRA & AIFUL is a personal lending company offering a portfolio of credit products centered on the A money brand. The core offering includes A money cash cards (revolving credit loans), Nano Finance micro-business loans, and Benefit Plus Cards. A dedicated mobile application provides digital access to account management and loan services. The company operates approximately 45 branches nationwide and serves over 300,000 customers with a total loan portfolio of 8,000 million baht.

Differentiator

Problem solved

Functional benefit

Brands

• A money: Cash card service (Revolving Loan) providing emergency funds
• Nano Finance
• Benefit Plus Card

Products and services

• A money Cash Card A money is a cash card product providing revolving credit loans for personal emergencies. It offers flexible borrowing with credit limit approval and fund transfer to customer accounts, designed for Thai consumers who need quick access to emergency funds.
• Nano Finance Nano Finance is a regulated micro-business loan product for small entrepreneurs without collateral or formal income documentation, with maximum credit limit of 100,000 baht and effective interest rate not exceeding 33% per year. Designed for micro entrepreneurs and small business operators needing working capital.
• Benefit Plus Card Benefit Plus Card is a cash card product offering additional benefits to cardholders beyond the standard A money revolving credit.
• Nano Finance for Franchise Operators (Chai Si Corporation) Nano Finance product specifically designed for franchise operators under Chai Si Corporation partnership, requiring minimum 2 years business relationship and average monthly sales of 20,000 baht or more. Used for franchise expansion, second store opening, and franchise royalty payments.

Quantifiable outcome

• 14% revenue growth in FY2022 compared to FY2021
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• Bangkok Bank Public Company LimitedcoreChannel Partner/ Reseller/ Distributor · 1 October 2023Payment integration partnership enabling A money card holders to pay bills and make transactions through Bangkok Bank Mobile Banking application (App-to-App Bill Payment). Partnership builds on previous 4-year ATM cash withdrawal collaboration.
• Chulalongkorn UniversityminorStrategic or Co-development Partner · 1 January 2022Academic partnership hosting 'Aihack Thailand' annual hackathon competitions (Years 1-4: 2022-2024) focused on Machine Learning applications for financial services. Co-organized with Aiful Corporation providing real business problems and scholarship prizes totaling over 100,000-180,000 baht.
• Aiful CorporationcoreStrategic or Co-development Partner · 24 December 2015Japanese financial services company holding 49.75% equity stake in AIRA & AIFUL. Primary joint venture partner providing financial expertise, technology, and management experience from Japan's consumer finance market. Founded over 25 years ago with extensive experience in credit management and IT systems.
• AIRA Capital Public Company LimitedcoreStrategic or Co-development Partner · 24 December 2015Thai holding company (formerly Advance Info Service PCL) holding 30% equity stake. Joint venture partner providing local market expertise and business network in Thailand. Company provides investment and financial services through subsidiary companies.
• Teijin Polyester Company LimitedminorStrategic or Co-development PartnerEnvironmental partnership under 'A money x Teijin Buddy' CSR program converting donated PET bottles into polyester fibers for t-shirt production. Partnership running since 2020 (Year 1) through ongoing Years 1-5, donating recycled t-shirts to youth.
• Precious Plastic Bangkok (PPB)minorStrategic or Co-development PartnerEnvironmental partnership under 'A money x PPB Buddy' program for plastic bottle cap upcycling. PPB transforms collected bottle caps into new products through community-based recycling network of 500+ organizations worldwide.
• Thai-Nichi Institute of Technology (TNI)minorStrategic or Co-development PartnerAcademic partnership hosting 'TNI Hackathon' competitions (Years 1-3: 2022-2024) focused on AI and IoT applications for smart living solutions. Partnership includes 'Hackathon: Innovative Application 2024' on AI for Smart Health topic.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• NgernTidLor Public Company Limited (NTL): Leading Thai Nano Finance and title-loan provider focused on informal workers, freelancers, and small merchants without formal income documentation. Directly competes for the same underbanked Nano Finance customer segment that AIRA & AIFUL serves.
• JMT Network Services Public Company Limited: Thai debt buyer and servicer focused on non-performing loans (NPLs), with adjacent exposure to consumer credit origination via subsidiaries. Comparable by virtue of operating in the same Thai consumer-credit ecosystem and serving overlapping borrower pools.
• AIFUL Corporation: Major Japanese consumer finance company and 49.75% shareholder of AIRA & AIFUL. Operates a directly comparable unsecured personal loan and cash card business in Japan, providing the operational blueprint and credit management know-how for AIRA & AIFUL's Thai operations.
• Srisawad Corporation Public Company Limited: Diversified Thai consumer finance group with significant Nano Finance (S-Air) and personal loan operations alongside its core title-loan business. Comparable product mix and overlapping target customers in the underbanked and informal-worker segments.
• AEON Thana Sinsap (Thailand) Public Company Limited: One of Thailand's largest personal cash card and consumer finance companies, offering revolving credit, hire-purchase, and personal loans to mass-market consumers. Closely comparable product set and customer profile to AIRA & AIFUL's A money and Nano Finance businesses.
• Muangthai Capital Public Company Limited: Thai non-bank finance company providing personal loans, Nano Finance, and hire-purchase products to retail and small-business borrowers. Comparable lending portfolio and customer base to AIRA & AIFUL, with a larger branch network.

Broad incumbents

• Krungsri (Bank of Ayudhya Public Company Limited): One of Thailand's largest commercial banks with consumer lending, personal loans, and Nano Finance products under the 'Easy Cash' brand. Overlaps with AIRA & AIFUL's product set but serves a broader customer base including prime borrowers through a deposit-funded banking platform.
• Kiatnakin Phatra Financial Group: Thai financial group providing personal loans, auto finance, and capital markets services. Larger and more diversified than AIRA & AIFUL but a relevant comparable for the personal lending business model in Thailand.
• Kasikornbank Public Company Limited (KBank): Top-tier Thai universal bank with extensive consumer lending, Nano Finance partnerships, and a nationwide K-ATM network (used by AIRA & AIFUL customers). A broad incumbent that competes indirectly through partner-bank distribution and its own retail loan products.
• TISCO Financial Group Public Company Limited: Thai financial services holding company offering consumer loans, hire-purchase, and wealth management. While broader in scope, its consumer lending arm competes for similar mid-market personal loan demand that AIRA & AIFUL targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AmoneyThailand

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 & AIFUL