Beacon VC, KASIKORNBANK venture Announcement of investment round Series A inRobowealth Leading Wealth Tech startups hope to join forces to strengthen their business Establish a flag to effectively bring Thai people into the capital market, aiming to solve 3 major obstacles (Paint Point) that make Thais dare to invest: lack of time, lack of knowledge and lack of money, aiming for the year ’64 with a total investment value of 30,000. Million baht
Many VCs are interested in investing
Thanaphong Na Ranong, Managing Director of Beacon Venture Capital Company Limited Revealed that Beacon VC’s overall investment policy focuses on finding and supporting potential startups. There are innovations or services that can extend the service of Kasikorn Bank. To create new choices and experiences To enhance the quality, standard and best service for the Bank’s customers. And this is the first time the bank has invested in a startup. Along with joint development of the project at the same time Which is the joint FinVest app launched at the end of 2020.
Therefore, the Beacon VC investment company of Kasikorn Bank Choose to join a Series A round in Robowealth, one of the most advanced investment technology companies in Thailand. There are a wide variety of investment applications. Therefore a joint effort to build business strength To be able to expand the customer base more and faster. As well as increasing new investment options and opportunities for the Bank’s customers. Especially during this period Where financial institutions’ deposit rates are generally low. Therefore, looking for technology to help analyze Select funds And manage investments in accordance with the situation It is an important opportunity for investment selection. That will generate returns that are different from the original
The fintech industry in Thailand has been around for a long time. But the interest of the fintech industry in Thailand Is a company with good growth Not a company with a business model and offering model to disrupt a financial institution But a company that focuses on working with financial institutions By applying new knowledge or new ways to benefit customers in addition to the strengths that financial institutions have, such as customer base, service safety To produce supportive growth
Chondet Khemaratana, Group Chief Executive Officer, Robowealth Group Company Limited Revealed that Robowealth is committed to the modernization of the Thai financial industry. Encourage all Thais to have the opportunity to start investing efficiently. Currently, Thailand has less than 5% of investors investing through mutual funds and stock exchanges, with more than 70 million people nationwide, indicating that over 95% of the population is still unable to enter the capital market.
Robowealth’s vision is to work together to create a sustainable financial ecosystem under the concept of “Empower Future Financial Ecosystem” through services in the form of Business to Consumer (B2C) and Business to Business (B2B) so that all Thais can Start to build sustainable financial stability It aims to solve major pain points that make Thais afraid to invest, namely lack of time, lack of knowledge and lack of money. And set a target to have a total investment value of 30,000 million baht in 2021
Launched with Odini
Robowealth currently plays a pivotal role in developing and delivering two of the most popular investment applications. Under Robowealth Investment Brokerage Company Limited, to help Thais access mutual fund investments with a starting capital of just 1,000 baht, both applications have a clear position to access. Different target groups, starting with odini, the first Robo-advisor in Thailand. Launched in mid-2018, targeting the general public who want automatic access to mutual funds investments.
With a Robo-advisor to adjust the port to keep up with the situation And consistent with acceptable risk levels With the freedom to choose to invest in lump sum money Or gradually invest on a monthly basis (DCA: Dollar Cost Average) where Robowealth has added odini BLACK service into the original application. To meet the growing demand of Mass Affluent clients and the newly launched FinVest app in late 2020 to provide attractive mutual fund selection services.
In the Thematic Investment style, it focuses on providing clear, easy-to-understand content and “target” investment in an impartial manner. Through professional fund managers and investment analysts Under the Investment Product Selection Committee Which helped to select funds from leading asset management companies both in Thailand and abroad by FinVest is a collaboration of Robowealth with Kasikorn Bank and Lu International World-class fintech companies
Robowealth also has a portfolio of investment advisors for High Net Worth clients who need a personal advisor with expertise in investing. Combined with robo-advisor technology to manage a wide range of investments. Managed by Robowealth Investment Advisory Securities Co., Ltd. and provides Software House application development services according to the needs of financial institution clients under Codefi. It is considered to be the person behind the success of many partners. Covers financial institutions in the type of asset management, securities companies and banks
The impact of the COVID situation is that Robowealth’s clients benefit from the Robo-advisor diversification of their investments abroad. The highest proportion is in China and the United States. Which is a market that gives good returns Because there are technology stocks that benefit from lock-down, the lock-down effect is also helping people around the world turn to digital platform more, which is a long-term benefit for Wealth Tech businesses. As a result, Thai financial institutions are keen on digital transformation. More obviously It is a significant opportunity for Robowealth to meet this need through a Business to Business (B2B) partnership.
