Krungsri Finnovate

Krungsri Finnovate, established in 2017 and based in Bangkok, Thailand, is a corporate venture capital firm that focuses on strategic investments to foster the growth of startups in various sectors, particularly information technology. The firm aims to enhance the startup ecosystem both domestically and internationally, with a specific interest in areas such as e-commerce, logistics, digital payments, blockchain, lending, and artificial intelligence. Krungsri Finnovate provides support through corporate partnerships that yield tangible outcomes, helping startups develop innovative financial solutions. With a venture capital fund of USD150 million, the firm is dedicated to promoting sustainable growth for startups connected to its business interests, ultimately encouraging them to reach Unicorn status.

Vimolnoht, Kampanat

Head of Venture Capital Investment

Palida Artispong

Head of Portfolio Growth and Acting Managing Director

29 past transactions

24 FIX

Series B in 2024
Founded in 2018, 24 FIX is a home maintenance and repair service provider based in Southeast Asia, focused on delivering comprehensive solutions for property care. The company offers a range of services, including cleaning and repairing appliances like washing machines and air conditioners, as well as electrical, plumbing, and painting work. Unlike typical platforms that merely connect clients with service providers, 24 FIX manages the entire process end-to-end, ensuring high standards of service through a dedicated team. With over 500 active repair teams and a growing workforce of nearly 200 professionals, 24 FIX aims to simplify maintenance tasks, continuously innovate, and enhance the quality of living spaces for its clients. The company's commitment to reliability and expertise positions it as a trusted partner in the home solution industry.

Ascend Money

Venture Round in 2024
Ascend Money is a fintech startup company that delivers e-payment and micro-lending products.

Klook

Series E in 2023
Klook is a prominent travel and leisure e-commerce platform that facilitates the discovery and booking of a wide variety of experiences and services for travelers. Users can explore and reserve activities such as tours, theme park tickets, cultural experiences, and adventure outings in numerous destinations. The platform also offers essential travel services, including public transport passes, airport transfers, car rentals, and SIM cards or eSIMs, ensuring seamless connectivity for users. Additionally, Klook allows travelers to book accommodations, making it a comprehensive solution for trip planning. Food enthusiasts can enhance their culinary experiences through dining reservations, food tours, and restaurant vouchers available on the platform.

FINNOMENA

Series B in 2023
Finnomena is a digital wealth management platform that caters to both investors and financial advisers. With a management team boasting approximately 50 years of combined experience in the financial sector, Finnomena employs proprietary machine learning technology and a hybrid robo-advisory model to help users achieve above-market returns while providing a seamless, tech-enabled experience. The platform offers a comprehensive suite of services, including an investment and portfolio management application that recommends tailored portfolios based on individual risk profiles. Additionally, Finnomena features a knowledge hub that delivers professionally generated investment content, attracting over 15 million monthly views and 1.2 million social media followers. This integrated approach allows users to research, analyze market data, and receive real-time insights, making it a valuable resource for managing financial goals.

24 FIX

Series A in 2022
Founded in 2018, 24 FIX is a home maintenance and repair service provider based in Southeast Asia, focused on delivering comprehensive solutions for property care. The company offers a range of services, including cleaning and repairing appliances like washing machines and air conditioners, as well as electrical, plumbing, and painting work. Unlike typical platforms that merely connect clients with service providers, 24 FIX manages the entire process end-to-end, ensuring high standards of service through a dedicated team. With over 500 active repair teams and a growing workforce of nearly 200 professionals, 24 FIX aims to simplify maintenance tasks, continuously innovate, and enhance the quality of living spaces for its clients. The company's commitment to reliability and expertise positions it as a trusted partner in the home solution industry.

Choco CRM

Series C in 2022
Choco CRM is a professional CRM & POS solutions for business.

ADDX

Series B in 2022
ADDX is a company focused on democratizing private capital markets by utilizing blockchain and smart contract technology. Founded in 2017 and regulated by the Monetary Authority of Singapore, ADDX automates various manual processes related to the life cycle of securities across multiple asset classes, including pre-IPO equity, hedge funds, private equity funds, and wholesale bonds. This innovation enables the fractionalization of investments, significantly reducing minimum investment amounts from $1 million to $20,000, thereby allowing more accredited individual investors to access previously inaccessible opportunities. The company's platform facilitates the issuance, settlement, custody, and secondary trading of digital securities, streamlining the trading process and ensuring secure access to capital markets for both investors and issuers.

FWX

Seed Round in 2022
FWX is a decentralized derivatives platform where users trade against the protocol, while the protocol fully hedges the risk of all positions using liquidity in its pools. FWX has two primary services: lending and borrowing pools and derivatives trading. Unlike the traditional order-book-based double auction matching mechanism, FWX acts as a counterparty to all futures traders and applies a unique hedging algorithm to eliminate the risk using the liquidity in its single-token lending pools. Every futures trade submitted to the platform creates organic borrowing demand in the pools. This solves the problem currently faced by lending platforms in which there are many lenders but significantly fewer borrowers. The higher the trading volume, the higher the yield. With the daily trading volume of 500kUSD, FWX can generate organic yield of at least 20% for a 5mUSD pool.

ADDX

Series B in 2022
ADDX is a company focused on democratizing private capital markets by utilizing blockchain and smart contract technology. Founded in 2017 and regulated by the Monetary Authority of Singapore, ADDX automates various manual processes related to the life cycle of securities across multiple asset classes, including pre-IPO equity, hedge funds, private equity funds, and wholesale bonds. This innovation enables the fractionalization of investments, significantly reducing minimum investment amounts from $1 million to $20,000, thereby allowing more accredited individual investors to access previously inaccessible opportunities. The company's platform facilitates the issuance, settlement, custody, and secondary trading of digital securities, streamlining the trading process and ensuring secure access to capital markets for both investors and issuers.

Zipmex

Series B in 2022
Zipmex is a digital asset exchange platform that facilitates secure investments in cryptocurrencies for both retail and institutional investors. Founded in August 2018 by Akalarp Yimwilai and Marcus Lim in Singapore, the company aims to provide curated investment opportunities that include asset-backed digital assets like gold and real estate, as well as established cryptocurrencies with significant wealth generation potential. Zipmex prioritizes security by employing institutional custody for digital assets, offering insurance coverage up to $100 million. The platform features advanced trading tools and charting capabilities, catering to a diverse user base. Currently, Zipmex is licensed to operate in Thailand and Australia, and it is actively pursuing licenses in Indonesia and Singapore.

PEAK

Series A in 2021
PEAK (peakaccount.com) is one of the leading online accounting software provider in Thailand. We manage accounting record of almost 100,000 transactions valued over 2 billion bath per month. PEAK is a supported startup from True Incube and is invested by True, GSB, and SET. We won several awards and recognitions including winner prize for Ease of Doing Business Solution, Design Innovation, True Incube Batch 2. We are not only providing online accounting software but we are building business infrastructure for future data-driven economy. We help SMEs in Thailand have a better accounting system and have a better chance of getting loan or money they need to expand their business.

Zipmex

Series B in 2021
Zipmex is a digital asset exchange platform that facilitates secure investments in cryptocurrencies for both retail and institutional investors. Founded in August 2018 by Akalarp Yimwilai and Marcus Lim in Singapore, the company aims to provide curated investment opportunities that include asset-backed digital assets like gold and real estate, as well as established cryptocurrencies with significant wealth generation potential. Zipmex prioritizes security by employing institutional custody for digital assets, offering insurance coverage up to $100 million. The platform features advanced trading tools and charting capabilities, catering to a diverse user base. Currently, Zipmex is licensed to operate in Thailand and Australia, and it is actively pursuing licenses in Indonesia and Singapore.

Builk

Series B in 2021
Builk.com is a professional social network connecting construction professionals through their business activities e.g. budgeting, job costing, purchasing, invoicing and site collaboration. Construction companies work for FREE and connect to their suppliers, designers and customers easier.

WISESIGHT

Series B in 2021
Wisesight utilizes social media data for analytics, synthesizing, and unlocking the potential of Raw Data to make it become Valuable Data. utilize Social Data for analyzing, synthesizing, and unlocking the potential of Raw Data in order to make it become Valuable Data which can make benefits for more than 200 brands and agencies in every industry by more than 200 developers, researchers, operator,s and supporters in Bangkok. Our services are cover Thai, English, Burmese and Malay languages, processing the data via Social Media for more than 20 million messages a day.

Flash Express

Series E in 2021
Flash Express is a logistics and transportation company based in Bangkok, Thailand, that specializes in door-to-door pickup and delivery services. Established in 2017, the company leverages its in-house developed technology and Big Data to digitize and standardize the delivery process, which enhances operational efficiency and enables competitive pricing. In addition to its core delivery service, Flash Express operates under the Flash Group umbrella, offering a range of integrated e-commerce solutions. These include Flash Logistics for large item deliveries, Flash Fulfillment for goods storage, and Flash Home for parcel delivery agent services, as well as Flash Money for financial services. This comprehensive approach allows Flash Express to meet diverse client needs while ensuring fast and cost-effective service.

Choco CRM

Series B in 2021
Choco CRM is a professional CRM & POS solutions for business.

AppMan

Series A in 2021
AppMan is a prominent technology provider in the life insurance sector, catering primarily to leading insurers in Thailand and across Asia. The company focuses on enhancing the insurance sales experience through innovative solutions. A key offering is AgentMate, an electronic Point of Sale system designed to streamline the insurance sales process for agents and clients alike. This modular platform allows insurers to customize their digital roadmap by selecting specific modules that meet their operational needs. Additionally, AppMan's insure-tech platform aids businesses in optimizing work processes by identifying user requirements and translating them into actionable solutions. Through incremental prototyping and risk assessment, AppMan supports customers in maintaining financial health and planning sustainably for the future.

Flash Express

Series D in 2020
Flash Express is a logistics and transportation company based in Bangkok, Thailand, that specializes in door-to-door pickup and delivery services. Established in 2017, the company leverages its in-house developed technology and Big Data to digitize and standardize the delivery process, which enhances operational efficiency and enables competitive pricing. In addition to its core delivery service, Flash Express operates under the Flash Group umbrella, offering a range of integrated e-commerce solutions. These include Flash Logistics for large item deliveries, Flash Fulfillment for goods storage, and Flash Home for parcel delivery agent services, as well as Flash Money for financial services. This comprehensive approach allows Flash Express to meet diverse client needs while ensuring fast and cost-effective service.

Ricult

Funding Round in 2020
Ricult Inc. operates an online marketplace that connects farmers with suppliers of agricultural inputs and potential crop buyers, primarily focusing on smallholder farmers in developing countries. Founded in 2015 by MIT alumni, the company has developed a comprehensive digital platform that addresses the diverse needs of farmers, utilizing credit scoring algorithms and predictive analytics to assess creditworthiness. The platform also incorporates geographic information systems, satellite imagery, and agronomic models to provide farmers with vital information on crop management, including when to irrigate and harvest. Additionally, Ricult facilitates access to affordable loans and offers recommendations for improving crop yields. Headquartered in Boston, Massachusetts, Ricult currently operates in Thailand and Pakistan, aiming to empower farmers and help them escape poverty while accessing a multi-billion dollar market.

FINNOMENA

Series B in 2020
Finnomena is a digital wealth management platform that caters to both investors and financial advisers. With a management team boasting approximately 50 years of combined experience in the financial sector, Finnomena employs proprietary machine learning technology and a hybrid robo-advisory model to help users achieve above-market returns while providing a seamless, tech-enabled experience. The platform offers a comprehensive suite of services, including an investment and portfolio management application that recommends tailored portfolios based on individual risk profiles. Additionally, Finnomena features a knowledge hub that delivers professionally generated investment content, attracting over 15 million monthly views and 1.2 million social media followers. This integrated approach allows users to research, analyze market data, and receive real-time insights, making it a valuable resource for managing financial goals.

Baania

Series B in 2019
Baania is Thailand's leading online marketplace and data platform for residential properties, established in 2016 and headquartered in Chiang Mai, with additional offices in Bangkok and Nakhon Ratchasima. The platform aims to empower consumers by providing vital information and insights for buying, selling, renting, and financing homes. Baania streamlines the often complex process of real estate transactions by connecting buyers, sellers, developers, realtors, and banks through its comprehensive database of over one million homes. It offers data-driven analytical tools, including Thailand's first automated valuation service, Bestimate, which delivers up-to-date market insights and historical price comparisons. This enables users to make informed decisions regarding their real estate endeavors. Baania has successfully secured funding from local investors and notable venture capital firms over multiple rounds, further solidifying its position in the real estate market.

Choco CRM

Series A in 2019
Choco CRM is a professional CRM & POS solutions for business.

Silot

Series A in 2019
Silot develops intelligent banking software that leverages artificial intelligence and blockchain technology to enhance the operational efficiency of banks in Southeast Asia. By integrating and connecting various functional silos within financial institutions—such as payments, onboarding, merchant management, and anti-fraud—Silot's solutions facilitate improved data sharing and decision-making. The company's approach goes beyond simple task automation, aiming to empower banks with advanced capabilities that promote smarter operations and enhance overall performance. Ultimately, Silot seeks to help banks evolve into a new era of intelligent banking by enabling unprecedented discovery and decision-making abilities.

Baania

Series A in 2018
Baania is Thailand's leading online marketplace and data platform for residential properties, established in 2016 and headquartered in Chiang Mai, with additional offices in Bangkok and Nakhon Ratchasima. The platform aims to empower consumers by providing vital information and insights for buying, selling, renting, and financing homes. Baania streamlines the often complex process of real estate transactions by connecting buyers, sellers, developers, realtors, and banks through its comprehensive database of over one million homes. It offers data-driven analytical tools, including Thailand's first automated valuation service, Bestimate, which delivers up-to-date market insights and historical price comparisons. This enables users to make informed decisions regarding their real estate endeavors. Baania has successfully secured funding from local investors and notable venture capital firms over multiple rounds, further solidifying its position in the real estate market.

Omise

Series B in 2017
Omise Co., Ltd. operates an online payment platform designed for both web and mobile applications, enabling users to easily transfer funds, process refunds, and store customer payment information for future transactions. Founded in 2013 and based in Bangkok, Thailand, Omise aims to simplify the online payment experience, particularly in markets like Thailand, Japan, and Singapore, where traditional payment processing can be cumbersome. The platform provides a range of processing solutions that facilitate seamless payment acceptance for businesses, including credit and debit card transactions and bill payments through various banking methods. Omise also offers APIs for developers to integrate payment functionality into their applications. The company prioritizes security and has achieved compliance with PCI-DSS standards, ensuring that transactions meet the requirements of major payment networks. By addressing the challenges of online payment processing, Omise seeks to create a reliable and user-friendly solution for both merchants and consumers.

FINNOMENA

Series A in 2017
Finnomena is a digital wealth management platform that caters to both investors and financial advisers. With a management team boasting approximately 50 years of combined experience in the financial sector, Finnomena employs proprietary machine learning technology and a hybrid robo-advisory model to help users achieve above-market returns while providing a seamless, tech-enabled experience. The platform offers a comprehensive suite of services, including an investment and portfolio management application that recommends tailored portfolios based on individual risk profiles. Additionally, Finnomena features a knowledge hub that delivers professionally generated investment content, attracting over 15 million monthly views and 1.2 million social media followers. This integrated approach allows users to research, analyze market data, and receive real-time insights, making it a valuable resource for managing financial goals.
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