KBank launches KATALYST funding and guiding startup project

Ms. Kattiya Indaravijaya, middle, KBank President, Mr. Supreecha Limpikanjanakowit, left, KBank First Senior Vice President, and Mr. Thanapong Na ranong, right, Beacon VC Managing Director, together delivered a press conference on the debut of the KATALYST project to equip startups with advice on business operation, knowledge and application of technology for business expansion both at home and abroad as well as financial support to propel Thai startups toward success.

Startups participating in the KATALYST project will get an opportunity to make a campaign with KBank, which has a customer base of over 14.5 million.

In addition, they will have a chance to bolster capital via Beacon Venture Capital Co., Ltd., which is KBank’s venture capital arm, and expand their business bases abroad via KVision Co., Ltd., which has been established by KBank as a holding company to invest in startups and explore innovation at a regional level.

They will also have an opportunity to find payment solutions and experiment new technologies invented by KBank and KASIKORN-BUSINESS TECHNOLOGY GROUP (KBTG), namely FastPay solution, FlowAccount, which is a cloud-based accounting platform that can send invoices to K PLUS SME for outstanding balance payments.

The bank hopes to increase digital loan products to the tune of 30 billion baht over the next three years. For the initial stage, the loan service has reached out to the bank’s existing customer base of 14.5 million.

Ms Kattiya said the bank aims to raise the number of users of mobile banking app K-Plus to 11 million by year-end.

KBank, the country’s third-largest lender by total assets and ranked as the banking sector’s leader in mobile services, aims to extend new digital loans valued at 5 billion baht this year, according to Bangkok Post.