Tagged: thailand

February 18, 2021 @ 10:20 am By Samantha Hurst  |  

  AppMan, a Thailand-based insurtech, has reportedly raised $4.3 million through its Series A funding round, which saw participation from Siam Alpha Equity’s SME Growing Together 1 fund, Krungsri Finnovate, Casmatt, KTBST, and Poems Ventures, the venture arm of PhillipCapital Group. Founded in 2011, AppMan claims to be… Read More

February 10, 2021 @ 11:45 pm By Omar Faridi  |  

SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi),… Read More

February 8, 2021 @ 10:30 pm By JD Alois  |  

Singapore based Funding Societies has announced the expansion of operations into Thailand. The online capital formation platform will operate under a crowdfunding license authorized by the Thai Securities and Exchange Commission. According to a note from Funding Societies, the company worked for more than a… Read More

February 6, 2021 @ 4:35 pm By Omar Faridi  |  

SME or small business crowdfunding platform Siam Validus has reportedly received a debenture crowdfunding license from the Securities and Exchange Commission of Thailand (SEC). Siam Validus is a joint initiative between Singapore’s SME financing platform Validus and SCG Distribution, a Thailand-based firm that specializes in… Read More

January 29, 2021 @ 8:11 am By Samantha Hurst  |  

  gettgo, a Thailand-based insurtech startup, announced on Friday it secured a $6.7 million investment from Muang Thai Group Holding Co. gettgo, which operates under Muang Thai Broker Co., Ltd., a subsidiary of Muang Thai Group Holding Co., is on a mission to build a new… Read More

January 27, 2021 @ 10:47 pm By Omar Faridi  |  

Thailand-based Omise, a digital payments platform, has reportedly chosen the Netcetera 3-D Secure Server in order to secure its transactions in the APAC region. The update is expected to go live this month. Netcetera, a Switzerland-based software firm providing virtual payment solutions, offers certified products… Read More

January 10, 2021 @ 7:00 pm By Jayanta Roy  |  

Peer-to-peer (P2P) lending has come a long way since its early days as a casual crowdfunding platform. Today, individual borrowers and small and medium-sized enterprises (SMEs) can access loans without the hassle of going through banks and lengthy financial assessments. Still, P2P lending is a… Read More

December 14, 2020 @ 9:23 pm By Omar Faridi  |  

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

December 10, 2020 @ 1:50 pm By Milena Naitoh  |  

Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million—more than half of Southeast Asia’s total alternative financing market that year.  This growth can be attributed to a combination of… Read More

December 1, 2020 @ 3:39 pm By Samantha Hurst  |  

Just a little over a month after announcing its payment capabilities debuted in South Korea, B2B fintech-as-a-service provider Rapyd announced it has launched the capabilities in Thailand. According to Rapyd, the integrated solution is a comprehensive set of local and international payment methods that includes… Read More

November 29, 2020 @ 10:45 pm By Omar Faridi  |  

During the past few years, the Fintech sector in Thailand has grown significantly. The country is now home to at least 96 Fintech startups. Thailand’s Fintech ecosystem includes companies and businesses operating in the digital payments space, blockchain or distributed ledger tech (DLT). There are… Read More

November 5, 2020 @ 11:05 pm By Omar Faridi  |  

  Digital challenger banks have adopted several different business models in order to establish operations in the Fintech and banking sector. They’ve experienced a threefold growth (over 300% growth) during the past five years, according to a new report from the Singapore Fintech Association (SFA)…. Read More

October 21, 2020 @ 11:31 am By Samantha Hurst  |  

LINE Corporation announced on Tuesday the launch of LINE BK, which is a “social banking” platform in Thailand. According to Line, LINE BK will connect Thailand’s “most popular” social media platform and one of Thailand’s leading banks. LINE BK was launched under the Wallet Tab… Read More

October 5, 2020 @ 10:14 am By Samantha Hurst  |  

IBM (NYSE: IBM) announced on Monday it teamed up with Bank of Thailand (BOT), the central bank, to launch a  blockchain-based platform for government savings bonds issuing a total of $1.6 billion within two weeks. According to IBM, the platform is using blockchain technology on the… Read More

September 17, 2020 @ 8:09 pm By Omar Faridi  |  

Cryptocurrency and blockchain technology adoption continues to rise, with banks, institutional investors, and everyday consumers now using these platforms to engage in everyday transactions or to implement various business use cases. According to Chainalysis, the “patterns of cryptocurrency usage” vary widely across the globe. The… Read More

September 11, 2020 @ 10:30 am By Samantha Hurst  |  

Sunday, a Thailand-based insurtech startup, has reportedly raised $9 million through its Series B bridge investment round. According to KrAsia, the investment round was led by SCB 10X, the venture capital arm of the Siam Commercial Bank PCL (SCB), with participation from Vertex Ventures Southeast… Read More

August 21, 2020 @ 5:50 pm By Omar Faridi  |  

Southeast (SE) Asia is home to an unbanked population of around 290 million, according to a recent report from Fitch Ratings. Fintech solutions can enable more widespread financial inclusion, and could potentially increase the GDP of emerging markets by $3.7 trillion, according to an updated… Read More

August 14, 2020 @ 1:44 pm By Omar Faridi  |  

The United Kingdom and the Bank of Thailand (BoT) have reportedly committed to a Memorandum or Understanding (MoU) on financial services, in order to support inclusive economic growth and development. The UK government and the BoT signed the MoU on August 7, 2020, according to… Read More

July 27, 2020 @ 8:15 am By Omar Faridi  |  

Financing for SMEs is severely limited in certain regions of the world. Many different peer to peer (P2P) lending platforms have been launched in order to provide much-needed capital to small businesses. The SME Finance Forum reveals that 41% of formal micro, small and medium… Read More