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Wednesday, May 15, 2024

Robinhood to move into nanofinance

Mr Kaweewut says the ride-hailing and loan services are expected to generate strong demand.

Robinhood, an application for an on-demand delivery service platform under SCB X, plans to offer nanofinance next month in a bid to grow new loans by 100 million baht this year.

Purple Ventures Co, SCB’s tech startup which runs the Robinhood platform, has received a nanofinance licence from the Bank of Thailand, and the company is scheduled to launch the loan product, called Robinhood Finance, in August this year.

Robinhood riders are the key target segment of the financial service, aiming for a credit line per borrower of…

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