Beacon Venture Capital, a corporate venture capital arm of Kasikornbank, led a funding round of US$6.5 million for Jitta, a Thai WealthTech startup that offers high-tech solutions for investors worldwide. The funding round, which is the biggest pre-series A round for a Thai startup, will help promote innovation in the country’s WealthTech industry and prepare Jitta for global expansion,
Thanapong na Ranong, managing director at Beacon, said: “Beacon VC sees a lot of growth potential for wealth-management technology, or WealthTech, as it plays an increasingly important role amidst low interest rates.
“Jitta has exhibited the most outstanding capability to develop such technology, with its proprietary stock-analysis algorithm that’s been proven to help investors beat the market in the long run, as well as a steadily growing user base. The expertise of Jitta’s co-founders and team and, particularly, their strong commitment to bring genuine value to their customers give us confidence that Jitta will be able to transform the industry and achieve tremendous growth,” Thanapong added.