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.
Head of Portfolio Growth and Acting Managing Director
Past deals in Thailand
Zipmex
Series B in 2022
Zipmex is a company that develops a digital asset exchange platform aimed at facilitating secure cryptocurrency investments for both retail and institutional investors. Founded in August 2018 by Akalarp Yimwilai and Marcus Lim in Singapore, the platform allows users to access a diverse range of investment opportunities, including asset-backed digital assets such as gold and real estate, as well as established cryptocurrencies with significant wealth generation potential. Zipmex prioritizes security, employing institutional custody for digital assets insured up to US$100 million. The company is currently licensed to operate in Thailand and Australia, with plans to expand its licensing to Indonesia and Singapore. The platform offers advanced trading features and charting tools, ensuring that users worldwide have the necessary support and resources to navigate the cryptocurrency market effectively.
PEAK
Series A in 2021
PEAK is a prominent online accounting software provider in Thailand, catering primarily to small and medium-sized enterprises (SMEs). The company manages nearly 100,000 transactions valued at over 2 billion baht each month, significantly streamlining accounting processes for its users. By reducing paperwork and automating accounting tasks, PEAK enhances productivity and efficiency, allowing businesses to focus on growth. Additionally, the platform improves access to financial resources, increasing the likelihood of securing loans for expansion. Supported by True Incube and backed by investments from True, GSB, and SET, PEAK has garnered several awards for its innovative solutions, positioning itself as a key player in developing the infrastructure needed for a data-driven economy in Thailand.
Zipmex
Series B in 2021
Zipmex is a company that develops a digital asset exchange platform aimed at facilitating secure cryptocurrency investments for both retail and institutional investors. Founded in August 2018 by Akalarp Yimwilai and Marcus Lim in Singapore, the platform allows users to access a diverse range of investment opportunities, including asset-backed digital assets such as gold and real estate, as well as established cryptocurrencies with significant wealth generation potential. Zipmex prioritizes security, employing institutional custody for digital assets insured up to US$100 million. The company is currently licensed to operate in Thailand and Australia, with plans to expand its licensing to Indonesia and Singapore. The platform offers advanced trading features and charting tools, ensuring that users worldwide have the necessary support and resources to navigate the cryptocurrency market effectively.
Flash Express
Series E in 2021
Flash Express, established in 2017 and based in Bangkok, Thailand, specializes in door-to-door freight pickup and delivery services. Leveraging in-house developed technology and big data, the company streamlines and digitizes its delivery processes, enhancing operational efficiency and offering competitive pricing. Beyond its core service, Flash Express also provides a suite of integrated e-commerce services, including large item delivery (Flash Logistics), goods storage (Flash Fulfillment), parcel delivery agent service (Flash Home), and financial services (Flash Money), all under the Flash Group umbrella.
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, established in 2017 and based in Bangkok, Thailand, specializes in door-to-door freight pickup and delivery services. Leveraging in-house developed technology and big data, the company streamlines and digitizes its delivery processes, enhancing operational efficiency and offering competitive pricing. Beyond its core service, Flash Express also provides a suite of integrated e-commerce services, including large item delivery (Flash Logistics), goods storage (Flash Fulfillment), parcel delivery agent service (Flash Home), and financial services (Flash Money), all under the Flash Group umbrella.
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.
Grab
Series I in 2020
Grab Holdings Inc., headquartered in Singapore, operates a mobile technology platform that integrates city transportation and various on-demand services in Southeast Asia. The company, founded in 2012 by Anthony Tan and Tan Hooi Ling, offers services such as ride-hailing (GrabTaxi, GrabCar), carpooling (GrabHitch, GrabShare), shuttle services (GrabShuttle, GrabShuttle Plus), and food delivery through its GrabFood platform. Grab also provides financial services, including payments, consumer loans, and enterprise offerings. It operates in eight countries: Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and Myanmar. Grab generates revenue by charging commissions to both consumers and service providers, with ride-hailing and food delivery contributing to 89% of its total revenue. The company competes with Foodpanda and Gojek in the region.
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.
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. is a Bangkok-based company founded in 2013 that develops and operates an online payment platform designed for seamless integration on both web and mobile. The platform facilitates money transfers to third-party bank accounts, enables refunds to customers, and allows users to store payment information for future transactions. Omise caters to businesses by offering a variety of payment processing solutions, addressing the challenges faced by online stores in Thailand, Japan, and Singapore, where the existing payment systems often require cumbersome documentation and high fees. The company aims to simplify the payment process, enabling instant acceptance of credit and debit card payments, as well as bill payments through online banking and ATMs. Omise also provides APIs for developers, ensuring easy integration and high security standards, as evidenced by its compliance with PCI-DSS 3.1. The company's mission is to enhance the online payment experience, bridging the gap between physical and digital transactions for both merchants and consumers.
Spot something off? Help us improve by flagging any incorrect or outdated information. Just email us at support@teaserclub.com. Your feedback is most welcome.