<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/beacon">Beacon Venture Capital</a>, the corporate venture capital arm of Thailand&#8217;s Kasikornbank, has led a $6.5-million pre-Series A round for wealthtech startup <a style="color: #000080;" href="http://dealstreetasia.com/tag/jitta">Jitta</a> to support its global expansion, according to an announcement on Wednesday.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/beacon">Beacon Venture Capital</a>, the corporate venture capital arm of Thailand&#8217;s Kasikornbank, has led a $6.5-million pre-Series A round for wealthtech startup <a style="color: #000080;" href="http://dealstreetasia.com/tag/jitta">Jitta</a> to support its global expansion, according to an announcement on Wednesday.
The funding marks the largest pre-series A for any Thai startup to date.
&#8220;Jitta is one of the very few Thai startups with a highly scalable product, meaning it can launch and solve the same problem in any foreign market in a very quick and efficient manner. We believe this local startup star has all the potential to bring about an investment phenomenon that hugely benefits the society as well as putting Thailand’s startup community on the world&#8217;s center stage,” said Beacon VC managing director Thanapong Na Ranong.
Jitta, founded in January 2014, uses Big Data to analyze business financials and automate portfolio management. It claims that its clients manage 2.2 billion baht worth of assets using its strategy.
With the latest funding, Jitta plans to hire more developers to incorporate artificial intelligence into its technology and to provide stock analysis data covering 95 per cent of the world&#8217;s capital markets.
&#8220;Additionally, we’re launching a new service called Jitta Wealth, a technology-based fund that uses the Jitta Ranking strategy and aims to provide index-beating returns in the long run. This long-term investment alternative will be operated by Jitta Wealth Asset Management, currently in the process of obtaining a private fund license from the Securities and Exchange Commission (SEC), and will tentatively begin operating in the second quarter of this year,&#8221; Jitta co-founder and CEO Trawut Luangsomboon said.
The new service is scheduled for expansion to Singapore and India this year, he added.
Beacon VC, which increased its fund size to $135 million in 2018, has so far invested in five startups, including ride-hailing major Grab, digital cross-border payment firm InstaReM, lifestyle platform Ookbee and software developer FlowAccount. It has also invested in Vertex Ventures’ third Southeast Asian Fund and a Dymon Asia Ventures fund.
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Beacon Venture Capital, corporate VC arm of Thailand’s Kasikornbank, led $6.5-million pre-Series A round for wealthtech startup Jitta to support its global expansion.

Beacon VC leads $6.5m pre-Series A round for Thai wealthtech startup Jitta

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Beacon VC leads $6.5m pre-Series A round for Thai wealthtech startup Jitta

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