Krungsri Finnovate

Established in 2017, Krungsri Finnovate is a corporate venture capital firm based in Bangkok, Thailand. It focuses on strategic investments to support startups' growth, with a USD150 million fund dedicated to domestic and international startups related to its business or customers. The firm invests primarily in the information technology sector, including e-commerce, fintech, blockchain, AI, and cybersecurity.

Palida Artispong

Head of Portfolio Growth and Acting Managing Director

Kampanat (Jom) Vimolnoht

Head of Venture Capital Investment

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 is a logistics company established in 2017, headquartered in Bangkok, Thailand. It specializes in door-to-door freight pickup and delivery services, utilizing proprietary technology and big data to enhance operational efficiency and offer competitive pricing. The company also provides additional services such as large item delivery, goods storage, parcel delivery agent service, and financial services.

AppMan

Series A in 2021
AppMan specializes in digital solutions for life insurance providers. It serves top insurers in Thailand and Asia by enhancing sales experiences through its AgentMate platform, which offers modular electronic Point of Sale solutions.

Flash Express

Series D in 2020
Flash Express is a logistics company established in 2017, headquartered in Bangkok, Thailand. It specializes in door-to-door freight pickup and delivery services, utilizing proprietary technology and big data to enhance operational efficiency and offer competitive pricing. The company also provides additional services such as large item delivery, goods storage, parcel delivery agent service, and financial services.

Ricult

Funding Round in 2020
Founded in 2015, Ricult operates an online marketplace connecting farmers with input suppliers and crop buyers. Its platform uses data analytics, including credit scoring algorithms and predictive tools, to facilitate transactions based on farmer's creditworthiness. It also provides farm management insights using GIS, remote sensing, and weather studies to enhance yields. Additionally, the platform offers loan services.

Grab

Series I in 2020
Grab is a Southeast Asia-based mobile platform that integrates ride-hailing, food and grocery delivery, and financial services, connecting drivers, merchants, and customers through a single app. It operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, and Myanmar, and holds a leading market share in ride-hailing and food delivery, with 89% of revenue derived from these core businesses. The company also offers payments, consumer loans, and enterprise financial services. It charges commissions to both riders and merchants as it links them with consumers. Founded in 2012 by Anthony Tan and Tan Hooi Ling, Grab is headquartered in Singapore and maintains offices in Seattle, Beijing, Bangalore, Jakarta, and Vietnam. In 2024, Singapore, Indonesia, and Malaysia together contributed more than 70% of revenue.

Baania

Series B in 2019
Founded in 2016, Baania is Thailand's leading online marketplace and data platform for residential properties. It connects consumers with professionals, offering services such as property search, listing, verification, automated valuation (Bestimate ©), and insights to empower informed decisions regarding buying, selling, renting, and financing homes.

Baania

Series A in 2018
Founded in 2016, Baania is Thailand's leading online marketplace and data platform for residential properties. It connects consumers with professionals, offering services such as property search, listing, verification, automated valuation (Bestimate ©), and insights to empower informed decisions regarding buying, selling, renting, and financing homes.

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.
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