Based on the latest United Nations estimates, the current population of Thailand is over 68 million. Out of the total population, more than 28 million are social media users and over 29 million are internet users. The country also boasts of about 84.8 million mobile cellular subscriptions. This data clearly provides a good opportunity for fintech ventures such as e-payment system and mobile money. According to Statista, transaction value in the fintech market amounts to US$9,083m in 2017. Here are 10 popular fintech companies Thailand, that maintain a significant percentage of the industry’s market share.
Piggipo is a popular finance management app that enables users to manage budget and credit cards in one unified platform. Since its launch in 2014, the company has been considered one of the top mobile apps in all categories and have been awarded in many events and competitions for its smart mobile-based app that autonomously evaluates spending habits of the users and creates advance payment strategies. In 2014, it had about 35,000 users in its Android mobile. Currently, the app has about 100,000 downloads on the Google Play Store.
StockRaders is a professional trading platform that enables high profile investors to buy a diverse portfolio of stocks from stock markets in Asia. The company utilizes stock data before matching and adding to radars, presenting complex statistics in a simplistic and easy-to-use design. The start-up currently covers the public markets in Singapore and Thailand, where it claims 150,000 users.
PeakEngine is a leading start-up that provides easy-to-use online accounting software that helps business owners to prepare accounting and tax documents automatically. Suitable for small and medium-sized enterprises that need flexibility, PeakEngine can work anytime on any internet-accessible device.
4) Flow Account
Flow Account provides an easy cloud-based accounting system, customized for small businesses in Thailand. In 2015, the company had over 3,000 registrations. Its accounting system is used widely by the country’s local merchants and businesses. The company is one of the very few to introduce a smart financial management system for enterprises to utilize.
Finnomena is a rapidly growing enterprise whose mission is to unlock individuals’ investment potential. Currently, Finnomena’s Nter investment advisory service has over 1,000 registered members, whose combined investment funds amount to Bt1.3 billion.
Launched in 2014, Jitta is a value investing platform that simplifies financial analysis for financial advisors and individual investors. The platform provides actionable advice to help users streamline their decision-making and generate good returns with a simple investing method. Since its launch, the company has been providing financial analyses of stock markets in Thailand and the U.S.
Omise is a leading online payment gateway that offers a wide range of processing solutions for any business need. The company’s aim is to offer the best online payment experience that works well on both the mobile and the web. Last year, the company raised a $17.5 million Series B round to expand its business across Southeast Asia.
Setscope offers daily analysis of the entire stock market to bring the best quality stocks. The company claim that 80 percent of their stock recommendations have outperformed the index, resulting in a high 26 percent capital gain return. The company has more than 52,000 users in Thailand.
Masii is a site for comparing financial products. Launched last year 2016, more and more Thais are turning to the site to compare and buy their first ever financial product online. It has over 40,000 applications for credit cards and car insurance.
10) SiamSquared Technologies
Founded in 2009, SiamSquared Technologies provides a simplified stock trading platform. The company helps users to invest with ease and make it more fun to trade. It mainly focuses on the securities markets across APAC.