Thailand has certainly evolved into an interesting landscape for fintech as of late, thanks to a big push by the government in developing its fintech industry as part of the country’s broader Smart Cities and Thailand 4.0 initiative.
Turn Thailand into a fintech hub
The goal is to turn Thailand into a fintech hub in its own right. Thailand is particularly susceptible to fintech thanks to a gap in connectivity between urban and rural areas, where fintechs can jump in to disrupt existing processes and bring much-needed financial services to many citizens.
Throughout the relatively scant years of fintech as an ecosystem in Thailand, quite a few startups have risen to the top in capturing their market segment.
The following list represents the cream of the crop. Do note that the list compiled was based on disclosed funding rounds on websites like Crunchbase. Actual valuations may vary.
Total Funding US$45M
Omise develops and operates a solution that accepts both online and offline payments.
Users are not requires to make minimum monthly commitments, offers lower transaction fees, and even offers payment acceptance via social media networks.
Omise also raised US$25 million from an ICO to develop Omise Go, a decentralised payment platform that they hope will disrupt the current banking system.
Total funding: US$18M
2C2P is a payments solution provider that mainly helps e-commerce merchants accept payments online. 2C2P was founded in 2003 by Aung Kyaw Moe, an entrepreneur from Myanmar who is based in Singapore and Thailand. 2C2P positions itself as a payments provider tailored for the local needs of Asians.
3. Rabbit Internet (Rabbit Finance)
Total funding: US$9.1M
Industry: Insurance, Comparison Portal
Rabbit Internet is the company behind Rabbit Finance, one of Thailand’s premier comparison portals for insurance and other financial products. Rabbit Finance was previously Ask Hanuman.
Read the rest of the article here
Vietnam Loship secures investment from Skype co-founder
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.
Traveloka to launch financial services in Vietnam and Thailand
Traveloka, which says it has 40 million active monthly users, is developing “buy now, pay later” services for Vietnam and Thailand.
Thai Gaming Startups And Trends For 2021
Thailand is one of Southeast Asia’s most important markets for mobile games. There are about 531 Thai publishers on Google Play and about 1,684 Thai published games available for download on the store.
The name Thailand may not easily come to mind in any discourse on mobile or online gaming. However, with an estimated 27 million video gamers and projected revenue of $54m from online games in 2021, Thailand has positioned itself as a rising force in the gaming industry.
Thai Credit Guarantee Corporation (TCG) Will Launch Bad Debt Guarantee Program for SMEs
The program will also cover SME loans that have turned into non-performing loans (NPLs), defined as loans overdue by more...
Skin-lightening products market to reach US$31 billion by 2024
In emerging Asian and African economies, the natural aspiration to enhance one’s circumstances has led to rapid growth in the...
Thailand’s Stock Exchange (SET) synergizes with CMDF to strengthen research for capital market development
The Stock Exchange of Thailand (SET) has joined forces with the Capital Market Development Fund (CMDF) to reinforce the Capital...
New Business Registration Tops Highest since January 2019
The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport...
Asian students are vital to the health of Australian universities
Over 170,000 international student visa holders are stuck outside Australia, unable to enter because of travel bans.
Facebook unplugs Thai military propaganda
Facebook said it deleted accounts intended for targeted audiences in the southern provinces of Thailand, where Muslim insurgent groups fight...
Subscribe via Email
National6 days ago
Thailand to further ease COVID-19 restrictions
Business7 days ago
THAI airways to sell training center building to raise more funding
Economics4 days ago
1.7 million Thais without smartphones register for "Rao Chana" benefits
Health1 week ago
200,000 doses of COVID-19 vaccine Distributed to 13 Thai provinces