[ad_1]
The Sendly software is the primary formally licensed worldwide cash switch service developed by Mongolian tech youths for Mongolians all around the world.
In Might 2020, they launched a remittance service from the USA to Mongolia, adopted by a remittance service from Australia to Mongolia in Might 2021 and a remittance service from Japan to Mongolia in November 2021. The Sendly’s distinguished characteristic offers benefit of getting the bottom charges.
Previously, a complete of 8.7 million USD or 24.8 billion MNT was transferred to Mongolia. In 2021 alone, 19,600 transactions had been acquired, which is 46.2 p.c of the overall variety of 42,400 SWIFT transactions acquired by all business banks.
The Sendly turned an official accomplice of China’s WechatPay service in 2021, and the corporate is planning to launch the service this yr and become profitable transfers to China sooner or later.
In 2020, the Monetary Conduct Authority within the UK granted MonRemit Restricted, The Sendly’s UK subsidiary, an API (Approved Cost Establishment) license. In Might, we plan to launch our providers within the European Union. The Sendly’s software program permits Mongolians dwelling abroad to buy on-line, make fee of voluntary social insurance coverage, present entry to inventory market, and buy residences.
The corporate’s slogan is “Sendly-Cash switch for Mongolians” and it plans to enter the worldwide market in 2023 and broaden its operations to different international locations.
Within the third quarter of 2022, The Sendly intends to go public. A collaboration settlement has been inked with outstanding Mongolian and worldwide organizations as a part of the preparations.
IPO accomplice organizations:
Main underwriter: Ulzii and Co Capital JSC
Co-underwriter: Rhinos Funding JSC
Authorized Counsel: MDS Khanlex HNN
Exterior analysis firm: Gerege Estimate LLC
Exterior audit firm: Ernst & Younger Mongolia Audit LLC
Ulzii & Co. Capital LLC, certainly one of Mongolia’s premier securities firms, was based by B.Ulziibayar, the chairman of the board of the Mongolian Securities Sellers Affiliation, in 2007 to supply funding banking providers. For the primary time in Mongolia, the corporate has launched HKEX, LSE, ASX, and NYSE buying and selling providers, in addition to collaborated with Ard Credit score NBFI LLC to problem an IPO utilizing the order registration approach as an underwriter and issued Sandbox’s digital bond.
Rhinos Funding JSC LLC was based in 2019 with a one hundred pc funding from the Republic of Korea’s funding administration agency, Rhinos Asset Administration. It beforehand labored for Andsystems LLC and AN Cell Community LLC as a closed-end product funding consultancy firm and as a syndicate firm for LendMN NBFI’s open bond launch.
MDS Khanlex Legislation Agency was based in 2011 and started offering authorized providers to well-known multinational firms in 2018. The enterprise has labored on the primary public choices of LendMN NBFI LLC, Mongol Daatgal JSC, Tumenshuvuut JSC, Investor NBFI LLC and Suu JSC.
Since 2001, Ernst & Younger Mongolia Audit LLC (Ernst & Younger Mongolia) has supplied exterior audit and tax consulting providers in Mongolia as a part of the Ernst & Younger International Community of 300,000 individuals in 150 international locations. In 2021, the group performed an exterior audit of six business banks in addition to Mongolian Mortgage Company, LendMN, Emart, and Tenger Daatgal’s monetary statements.
Gerege Estimate LLC is an unbiased valuation agency and D.Gantulga, the agency’s founder and certified appraiser, leads the appraisal workforce. D.Gantulga works for the Royal Worldwide Institute of Licensed Appraisers as a enterprise and intangible asset appraiser. His workforce has labored on IPOs for monetary establishments such LendMN NBFI, Invescore NBFI and Bodi Daatgal prior to now.
[ad_2]
Source link
