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Wednesday, June 19, 2024

AEON partners with Rabbit and Humanica to launch the “Rabbit Cash” for digital lending

AEON Thana Sinsap (Thailand) Public Company Limited partners with Rabbit Group, a company within the VGI Group and Humanica Public Company Limited to establish the “Rabbit Cash Company Limited” to enter the digital lending market.

In the first phase, the Rabbit Cash targets two audience groups who look for access to the source of reserve funds in order to enhance business liquidity in time of the pandemic. The first group indicates small enterprise owners, online businesses, self-employed individuals and those with unclear evidence source of income. Whilst, the second group indicates regular staff members who lack of liquidity and are in urgent need of money. The Rabbit Cash is allowing employees at Humanica to be the first to apply for a welfare loan program that offers low interest rates.

The cooperation between the three organizations is formed under AEON’s potential and expertise as the leading retail finance services in the market combined with technological strength of the Rabbit Group and Humanica’s leadership in human resource management and payroll services. Rabbit Cash has an initial registered capital of 800 million baht, which 77 percent stake belongs to BSS Holdings Company Limited (“Rabbit Group”), 18 percent stake belongs to AEON Thana Sinsap (Thailand) Public Company Limited and the remaining 5 percent stake belongs to Humanica Public Company Limited.

In addition, Rabbit Cash has an Angel Fund to facilitate entrepreneurs and small enterprise owners with special interest rates. An Angel Fund is considered an important step in developing a sustainable growth for the Thai economy. The Rabbit Cash digital loan service is expected to be available in the second half of 2021.

Rabbit Cash, a digital lending service, is designed to connect all financial services for customers, allowing for easier, faster, and safer access to source of funds.

“As a leader in retail finance services, AEON sees potential in expanding business opportunity through providing digital credit services to meet the demands and the lifestyle of customers in the digital age. We hope that the services developed under the partnership with the Rabbit Group and Humanica will provide convenience and solution that meets the needs of customers.” Mr.Tsutomu Omodera, Managing Director of AEON Thana Sinsap (Thailand) Public Company Limited said.

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