Krungsri Finnovate, Benchachinda and 500 TukTuks are jointly investing US$3.2 million (Bt105 million) in Series A funding in FINNOMENA, a leading Thai fintech start-up in wealth management.
Under the deal, Krungsri Finnovate – a subsidiary of Bank of Ayudhya – will leverage FINNOMENA’s expertise in robo-adviser technology for further development of investment and wealth-management advisory services, Thakorn Piyapan, chairman of Krungsri Finnovate, said on Monday.
He said his company realised the growth potential and strength of FINNOMENA, which has also participated in its accelerator programme, Krungsri RISE Batch 1.
The fonancial-technology start-up has highly accelerated development and rapid customer growth, and Krungsri will leverage the company’s strength in robo-adviser technology by integrating the technology into its financial advisory services for wealth-management business, he explained.
“As such, we are able to offer the user of KMA [Krungsri Mobile Application], a user-friendly, convenient and all-in-one mobile-banking service, that can better serve customers’ individual investment goals,” Thakorn added.