Mula-X Holding (Thailand)

Our Vision

To alleviate relative poverty by technologically enabling the underserved and unbanked communities in Thailand and Greater Mekong sub-region to be able to access fair finance and acquire life-long financial literacy skills.

The Purpose of Our Business

At MULA-X, we aim to help resolve the problem currently faced by the underserved and unbanked segments in Thailand and Greater Mekong SubRegion.

At present, Thailand is facing with a problem of informal debt worth THB 6.9 trillion, which is very high compared to household debt in the financial institutions system of THB 20.9 trillion. Low-income earners or daily workers, such as factory workers, do not have access to finance through traditional financial institutions because of lack of sufficient income, fulltime employment status, and/or credit bureau records. In addition, the formal sector application process is very complex and hard for this segment to understand. As a result, they have to rely on borrowing from loan sharks, who lend out money at interest rates that are much higher than the maximum rates allowed by the law. It is estimated that 48% of Thai population are underserved by traditional financial institutions (deposits with no other services) and 15% are unbanked. This problem is intensified by the lack of financial knowledge of this underserved segments. They do not know how high are the interest rates they are paying to the loan sharks, how to make financial plan nor how to manage their money wisely. It is clearly an issue that requires immediate attention from both the government and the private sector. In this regards, MULA-X will take part to help resolve the issue through technology enabling and make borrowings accessible to anyone, anywhere and anytime.

What We Do?

Mula-X Holding (Thailand) Company Limited (Mula-X) aims to be a Platform-as-a-Service (PaaS) providing financial technology and personal development platform for small finance lenders (mainly pico) and customers in Thailand and CLMV region.

Mula-X targets to build a total integrated and fully automated “one stop shop” platform comprising lending system, from customer onboarding, loan origination, alternative data credit scoring and credit decisioning focusing on both willingness to pay as well as ability to pay, to collection management system to meet the demand of pico finance lenders and customers. Unsophisticated pico finance lenders will be armed with ready-to-run cloud based “plug and play” systems and processes with the compliance and security standard of large lending banks, leaving them with only customer selection, loan conditions and lending capital to focus on. Pico finance lenders can continue to grow the business while keeping the costs low.

To meet pico finance customer needs, we will also provide a platform that delivers financial literacy content and personal development tools for ongoing financial management development and personal growth.

With the team of senior banking professionals and credit risk management veterans, along with the latest digital technology and AI capability incorporated into the system, our delivered holistic technology platform services for pico lenders will be unmatched by current systems used by many lenders in Thailand.

Company registration date : 3 August 2020

STARTUP SECTOR : Digital FinTech


MULA-X was founded by a group of former senior executives of global banks, with average of more than 25 years of banking experience in Asia and around the world. The founders had been actively involved in promoting financial literacy throughout their banking career and have a passion to help the underserved and unbanked population to improve their personal finances and get out of the debt traps. MULA-X has strong risk team, both in New York and Thailand, with average of 25 years of experience in credit process, credit risk modeling and collection strategy. This is our key assets that would make us stand out from other digital-lending fintech whose teams are mainly tech focused. We also have in-house technology team, who have experience in lending business, supported by external technology partners. In addition, with our value in Fairness, Learning and Integrity, MULA-X has strong governance team, who understands all digital regulations and other relevant laws. In summary, with our strong combined experience together with diversity within team, MULA-X is ready to make a difference.

Ms.Lyn Yen Kok

Founder & CEO

Mr.Ray Duggins

Co-founder, Chief Risk Engineer

Mr.Phitsit Sucharitsopit

Co-founder, Chief Information Officer

Mrs.Jarumanee Nakasiri

Chief Strategy & Governance Officer

Mr.Mark Archer

Chief Collection Strategy Officer

Mr.Ittichai Kojorntanakit

Digital Lending Programme Director


+66(0) 5639655

Under construction