‘Baania’ raises over 100-million baht in 1st round series-B investment
‘Baania’ raises over 100-million baht in 1st round series-B investment from lead investor ‘Krungsri Finnovate’, plus ‘TQLD’, and ‘THS Growth’
Bangkok (15 October 2019) – Krungsri Finnovate, together with TQLD, a company of TQM Corporation Public Limited, and THS Growth, jointly invest in the 1st round series-B investment in Baania (Thailand) Co., Ltd. with over 100-million baht in total. The investment target is set at USD 10 million, or around 320 million baht, for the purpose of development of AI and big data systems and platforms to expand the B2B customer base, with 3 existing key pillars -- marketplace service, data service, and technology service.
Ms. Anchana Vallipakorn, Co-founder and Chief Executive Officer, Baania (Thailand) revealed that “Baania gets the 1st round series-B investment from Krungsri Finnovate, TQLD, THS Growth, and angel investor, who have confidence in continuous growth and development of big data and technology for real estate industry and see a chance to further accelerate expansion to other businesses. New development includes Baania.com 2.0 to enable the marketplace platform to meet demands of consumers more comprehensively, the database platform 77-province coverage, new technologies such as smart land bank system to analyze relevant real estate project development, intelligent valuation system to effective assist financial institutions as well as asset appraisal companies, and big data management platform for large public and private organizations. Currently we are in discussion with more investors for further growth.”
Mr. Sam Tanskul, Managing Director of Krungsri Finnovate Co., Ltd., revealed that “Krungsri Finnovate has been the lead investor for 2 consecutive rounds. Our first one was the series-A investment in 2018, which allowed Baania to enjoy substantial growth, not only in
in-depth database of Bangkok and other 26 provinces in Thailand, but also its partnership with various new business corporations in different projects according to its expanding real estate expertise. This, coupled with its technology strength, enables Baania to fulfill requirements of customers and business alliances in property and related businesses in its best capability.”
“At the same time, Krungsri and Baania are extending collaboration in several projects, mainly in optimization of in-depth data on people as well as property insight. With enhanced AI competency, Krungsri is working toward property appraisal innovations to expedite growth and agility of Krungsri home loan products for the maximum benefits of Krungsri customers.”
Mr. Sam added.
Dr. Thuntee Sukchotrat, Chief Executive Officer of TQLD, an insurance tech and innovation company of TQM Corporation Public Company Limited said; “Home is the most important thing of a person’s life for it is the heart of the entire family. It takes great effort and determination for anyone to earn his/her house and securing it is of equal determination. This is the chief reason for growth of home insurance. TQLD, as the insurance technology expert, would like to meet demands of customers via TQM Insurance Broker—the leading insurance and financial advisor of Thailand. From selecting the best-matched policies from all insurance companies to aftersales services, we seek to assure that all of our customers are provided with products and services that suit them best in all aspects.”
“To achieve such tailor-made demand fulfillment, we need information on industry insight as well as in-depth customer data. As the big data expert in the insurance industry, we can leverage on the mentioned data and extract insight that delivers the best products and services for our customers.” Dr. Thuntee added.
Mr. Vorathep Sirirat-usdorn, Executive Director of THS Growth revealed that “THS Growth is a company under Teo Hong Silom Group, which has been in the property construction and development for over 45 years. Our core policy is to develop business innovation both in respect of business solutions and partners to ensure we stay ahead the trend and effectively meet our customers’ demands. Parting up with Baania is a part of such strategy. With Baania’s core strength in AI and big data, our real estate business will reach out to customers with more efficiency. Meanwhile, Baania’s expertise enables us to collect big data and utilize AI to design future products and services that match customers’ needs more accurately. We invest to leverage from digital strength of Baania; and our confidence is boosted by the fact that Baania has been invested by Krungsri Finnovate. We strongly believe that Baania will continue its momentum of success in the future.”
THS Group is confident that Baania’s AI system and database will power up its sales and distribution network, especially in the auto parking system, the industry in which it is recognized as the No. 1 in Thailand. Such database will also optimize other businesses of the company, namely import of construction materials, which is innovation-driven, building mechanical and electrical system business (M&E), and facility management and operational management business (FM & OM). Such investment is therefore an essential move of our group company to venture into digital transformation with an AI and big data expert partner. We focus to strengthen our tech ability and we are ready to invest with tech experts, both in property and other industries.” Mr. Vorathep added.
Photo (from left)
- Dr. Thuntee Sukchotrat, Chief Executive Officer of TQLD
- Ms. Anchana Vallipakorn, Co-founder and Chief Executive Officer, Baania (Thailand)
- Mr. Sam Tanskul, Managing Director of Krungsri Finnovate Co., Ltd
- Mr. Vorathep Sirirat-usdorn, Executive Director of THS Growth