Krungsri Finnovate backs Series A+ for Thai startup Choco CRM

Krungsri Finnovate, the venture capital arm of Thailand’s Krungsri Bank, Monday announced that it has invested an undisclosed sum in an extended Series A round for Choco CRM, a Thai startup which offers customer relation management and point of sales (POS) services.

This marks its fifth direct investment in startups, following funding for blockchain and online payment unicorn Omise, fintech firm Finnomena, proptech startup Baania and AI-driven banking system developer Silot.

Choco provides small and medium enterprises (SMEs) with marketing tools to retain customers by offering personalised rewards and promotions. It offers CRM and POS solutions for businesses, who can connect with the end-users through a physical card, mobile phone number and a mobile application.

“The goal of this investment is to strengthen SME operators by means of delivering superior financial services and; to facilitate them to achieve business management efficiency and to have access to enhanced financial services, including Information-based Lending platform of Krungsri,” said Krungsri Finnovate managing director Sam Tanskul.

Choco’s founder and CEO Sirasit Suriyapattanapong said this collaboration has opened up Choco’s access to the financial services market, in addition to its current customers such as restaurants, gadgets and fashion stores.

Moreover, Krungsri will also be a key driver in the development of a payment gateway for Choco’s POS users.

Choco had previously secured 40 million baht ($1.25 million) in funding from InVent, the corporate venture capital arm of Thailand’s telecommunication firm INTOUCH Holdings, in September 2018.

Also Read:

Krungsri Finnovate to invest in Thai fintech startup’s Series B round

Krungsri Finnovate invests $2m in Singapore startup Silot’s Series A

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.