Robinhood eyes customer acquisition
SCB arm to forgo profit for 3 years
Robinhood, a local food delivery platform under Siam Commercial Bank (SCB), anticipates posting losses for the next three years under a no gross profit (GP) policy to support small merchants.
The Thailand-based food delivery platform held the soft launch of its service on Monday, which waives the GP fee, usually in the range of 30-35% in the food delivery market.
Small food and beverage merchants are the key target of this food delivery platform.
Robinhood is operated under Purple Ventures, SCB’s tech startup, as a pilot project with a budget of 150 million baht per year, spanning from…