Krungsri Finnovate Reveals Business Strategy for 2H/20

 

• Creating strategic partnership and investment in startups with high demand and potential growth in post Covid-19 crisis
• Strengthening synergy with startups in R&D and futuristic innovation
• Investing in “ICON Framework”, one of Thailand’s proptech leaders

Bangkok (10 August 2020) – Krungsri Finnovate, the leading organization supporting and investing in Thai start-ups toward innovation technology both domestically and regionally, reveals its business strategy and director for 2H/20. Its focuses include futuristic investment toward sustainable growth and collaboration with tech startups and alliances for in creating innovation relating to Krungsri to achieve Krungsri Finnovate’s goal of becoming 'The Best Banking Corporate Venture Capital (CVC)'. Moreover, Krungsri Finnovate announces its most recent investment in 'ICON Framework'.

Krungsri Finnovate Managing Director, Mr. Sam Tanskul, said, "Krungsri Finnovate continues its focus on providing support to Thai startups while monitoring Covid-19 impact on their ecosystem, especially of which Krungsri has invested. The impact has been brought into our consideration to review our short-term and long-term business plan to ensure the seamless collaboration and synergy toward sustainable growth, by using the analysis tools to assess consumer behavior and trend in order to respond to possible consumers’ needs . Krungsri Finnovate has redefined its business plan to focus on creating alliances as well as investing in startups with potential growth and technologies that will respond to the market in post Covid-19 which include e-Logistics, online payment, Software as a Service (SaaS), food delivery, etc."

Krungsri Finnovate has built on its investment to align with 4 investment theme namely:

1. Strategic Investment
2. Financial Returns
3. Futuristic Investment
4. Fund of Funds

Krungsri Finnovate continue seeking investment opportunities both domestically and internationally including Southeast Asia, China, Europe, and other countries with advanced innovation like Israel.

“Krungsri Finnovate has actively put its effort in developing startups ecosystem and promoting startups’ growth both in terms of investment and building incubation and escalation platforms. Going forward, another important step is to collaborate and work closely with giant tech startups to develop innovations that connect directly to Krungsri Group’s businesses, while continues its support to small startups to expand their business opportunity and growth through ‘Meet the Angels by Krungsri Finnovate’ project which has been well-received and joined by over 40 startups since the launch.” Mr. Sam added.

Most recently, Krungsri Finnovate has invested in ICON Framework Co., Ltd., one of Thailand’s proptech who develops the operational system in relation to real estate businesses to accommodate the sector’s growth and happenings in the future. ICON Framework’s profile includes 12 years experience in property technology development as well as Thailand’s top 10 real estate developers. The investment will help strengthening Krungsri’s home loan business in the long run.