Category: News

Workmate removes all platform fees to help SMEs and Daily Workers during COVID-19 Pandemic

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Communities are being asked to do something they have never had to do before, stay at home. In every country, this is impacting businesses and the entire economy, as sectors have shuttered their offices and turned to work from home where it is viable.

No group is being impacted more than daily workers across emerging markets in Asia, whose livelihoods depend on earning a wage every day to put food on the table, often working in manual labor jobs that they cannot do from their homes. As companies close to help stop the spread of COVID-19, these workers are left without an income, without social security, and without savings to last more than a couple of days.

One company that is deeply concerned about the impact this pandemic is having on daily workers is Workmate, an on-demand staffing platform whose mission is “to organize the informal workforce by connecting people to more opportunities, increasing their incomes, social protection, and ultimately their quality of life”.

“These daily workers are at the forefront of our mission.” –  Mathew Ward (CEO of Workmate):

“We also know that SMEs are being hit just as hard right now, and many are looking for ways to reduce fixed costs and move to more variable cost structures.  Many SMEs in the logistics or F&B space are essential to enabling the community to stay at home. For example, Workmate is now working with companies that are shipping equipment health and food products. So these daily workers are providing for their own family and the families of the millions of households that are practicing social distancing”

Workmate is in a unique position to help here, as the platform gives businesses the ability to increase manpower on the days they are busy, and reduce manpower on the slow days, and it is done by distributing work intelligently across our network of daily workers.

“We can help businesses reduce fixed costs, and help workers get access to more work. Therefore, we have decided to give SME’s access to the Workmate platform for FREE until June 30th. This means any SME who uses the Workmate platform and pays with a credit card, will only need to pay the workers costs, with zero Workmate fees.

It is our small way of helping two of the groups hit the hardest during this pandemic. We hope that this small gesture can go some way to helping small businesses and at the same time give more opportunities to the daily workers who need it most.”.

Click here to get started:

For more information call: 098 926 9357

Eventpop launches Online Event – a better way to stay entertained at home

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During this inconvenience due to the spread of COVID-19, many industries have been affected greatly and as a result, many event organizers have already had an impact on their events being cancelled which lead to chargebacks. In light of these events, Eventpop has launched a new feature called “Online Event” in order to support event organizers, brands, and any organizations to host events in this challenging situation. Eventpop is still operating as usual and is always here to support our clients and organizers. Eventpop is more than willing to assist and provide recommendations to anyone who wishes to host online events.

Eventpop will be working in partnership with Pro Plugin, Frog Live, and LiveTube, the known experts in Thailand’s live broadcasting industry, to provide an advanced high-quality live streaming platform. Furthermore, Eventpop will also continue to develop partnerships with True Digital Park, Thailand eSports Arena, other business corporations, and studios that are equipped with live broadcasting tools.

Over the years Eventpop has been providing event solutions, ticketing platform, and collecting customer data which can be valuable to organizers. Eventpop has been empowering organizers to host more than 8,000 events in various types including entertainment, sport, education, and activity – all of which required a venue to host an event. As the COVID–19 outbreak shows little to no sign of slowing down, Eventpop would like to introduce everyone to seek an alternative way of hosting events virtually through Eventpop’s platform.

With one-stop operation service, webinars, workshops, live streamings, and virtual sport events are all possible to happen from anywhere at any time. It is the easiest way for anyone who wishes to create online events. In addition, customers who are interested in attending an event can simply get the access link by completing online registration and payment. They will also get notifications if there’s any information updates from the organizer.

Eventpop is highly aware of the impact caused by the COVID-19 pandemic and strives to support and expand more opportunities to event organizers, brands, and any individuals during this time of uncertainty.

Organizers and media interested in hosting online events or have any questions can contact Eventpop at [email protected] or +66 (0) 62 593 2224 (and press 2 for call center).

Eventpop enters Laos market with on-site technology solutions

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Eventpop debuted its event technology solutions in Lao PDR at Single Party Chapter 3 music festival in Vientiane, the capital and largest city of Laos hosted by The PAS Project. The company is the first to introduce the NFC cashless payment solution which received a very warm welcome from Laotian event goers and organizers who are looking to up their game with new technologies. Participants in this event enjoyed various new technology-enabled experience including online reservation, speedy QR code check-in and Eventpop Photos – an exciting new feature that harnesses the power of AI and facial recognition to help participants fish out their photos from the tank.


A boutique MICE destination, Laos PDR shares borders with Vietnam, Cambodia, Thailand, Myanmar and China. This landlocked country is traversed by the Mekong River and is also well-known for mountainous terrain, hill tribe settlements and Buddhist monasteries. Laos retains many of the traditions, which attracts plenty of tourists each year. The capital Vientiane offers deluxe properties with modern conference and meeting facilities such as Don Chan Palace Hotel & Convention, Lao Plaza and ITECC Shopping Mall that hosted variety of events . The country has enjoyed economic growth driven by continuous investment in infrastructure, especially in telecommunication where 5G is being tested in certain areas as early as this year.


KBank launches KATALYST project to elevate Thai startup capabilities

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KASIKORNBANK (KBank) has debuted the KATALYST project to elevate capabilities of Thai startup firms determined to grow their business in line with KBank’s strategies. The initiative aims for business co-creation via knowledge sharing, provision of advice and support by KBank’s various departments and partners which will be conducive to business expansion.

Ms. Kattiya Indaravijaya, KBank President, revealed that most millenials want to start their own business as seen from the proliferation of startup firms. On the global front, a large number of investors and funds have seen investing in startups with potential. Though most of them have created innovations, more than 90 percent cannot survive and succeed. As new startups have joined the fray, competition has become tougher because existing startups, especially large players have formed partnerships and continually enhanced their potential in order to branch out to new markets.

Therefore, startups need an assistant who can be their friend, consultant and partner to help them expand their business and thrive. KBank initiated the KATALYST project to help startups with determination to grow and having business guidelines in line with the strategies of KBank and customers, as well as KBank partners. The collaboration marks an auspicious starting point to upgrade Thailand’s startup business. The KATALYST project can be comparable to a close friend who is ready to give advice to start-ups in various fields, including business models, an application of knowledge and technology and advice on business expansion both at home and abroad. Startups will have a chance to work with KBank’s work units, K Companies, KBank partners and Beacon Venture Capital which will provide investment funding to propel Thai startups toward success.

Currently, more than 600 Thai startups have registered with the National Innovation Agency (Public Organization) (NIA). In 2017, 31 startups received USD106.10 million or THB3.35 billion in venture capital investment, compared to 35 startups with USD61.25 million or THB1.933 billion in venture capital investment in 2018. The trend shows a slowdown, which is attributed to the fact that the growth of Thai startups fails to catch up with the market. KBank hopes that the KATALYST will help develop and strengthen the potential of startups to enable them to attract both domestic and international funding and propel Thai startups to the regional or the global scene in the future.

Mr. Supreecha Limpikanjanakowit, KBank First Senior Vice President, said that startups worldwide tend to have common problems in terms of business management. For example, they don’t have market for their products or services, lack funding and qualified team and face strong competition from their business rivals. Moreover, they struggle to manage cost and price, the quality of their products or services does not match the market needs or their management is not adequately equipped with experience in business and marketing management. The KATALYST project is ready to give advice to startups about these issues to ensure that they provide goods and services that respond to demand of KBank’s customers. The project will support startups with determination to grow further and not limited to any industrial segment. Aspiring startups can seek specific advices from experts from KBank and other organizations.

Startups participating in the KATALYST project will get an opportunity to make a campaign with KBank, which has a customer base of over 14.5 million. In addition, they will have a chance to bolster capital via Beacon Venture Capital Co., Ltd., which is KBank’s venture capital arm, and expand their business bases abroad via KVision Co., Ltd., which has been established by KBank as a holding company to invest in startups and explore innovation at a regional level. They will also have an opportunity to find payment solutions and experiment new technologies invented by KBank and KASIKORN-BUSINESS TECHNOLOGY GROUP (KBTG), namely FastPay solution, FlowAccount, which is a cloud-based accounting platform that can send invoices to K PLUS SME for outstanding balance payments. Aside from a chance to join study visits to leading companies abroad so that they can find guidelines to develop their products and services needed to tap into overseas markets, those startups will receive advice from legal experts from Baker McKenzie and meet executives from leading banks and companies related to their industries.

Mr. Thanapong Na Ranong, Managing Director of Beacon Venture Capital, said that Beacon VC, which is KBank’s venture capital arm, is ready to invest in startups having potential to create financial innovations and new forms of technology that are consistent with and capable of facilitating KBank’s strategies in an efficient and effective manner. In so doing, Beacon VC will assist and support startups participating in the KATALYST project through investment advice. This project will be another channel for Beacon VC to find seed funding for new startups in our portfolio. Beacon VC has already invested in seven companies, namely FlowAccount, Ookbee, Eventpop, Grab, InstaReM, Jitta and Horganice. We expect to invest in 2-3 startups per year from the KATALYST project in the future.

Also in:

Techsauce (English), The Nation (English), Money & Banking (Thai), Brand Inside (Thai), Blognone (Thai), Prachachat (Thai), Positioning (Thai)

Beacon VC joins DigitalOcean Hatch program as VC partner

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Beacon Venture Capital (Beacon VC) partners with DigitalOcean’s Hatch program which will provide Beacon VC portfolio companies with the resources and expertise needed to scale their business.

Hatch is a global program designed to support startups and entrepreneurs with meaningful benefits to launch and scale. For startups with funding from selected accelerators, incubators, co-working spaces and venture capital funds, DigitalOcean will provide free access to their cloud for 12 months, technical training, mentorship, priority support and an opportunity to connect with other startups, accelerators and investors.

Among Hatch partners include Techstars, 500 Startups, Y Combinator, Boost VC, SOSV and Andreessen Horowitz.

Beacon VC invests in T2P to strengthen KBank’s status, focusing on B2B2C e-wallet solutions

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To strengthen the status of KASIKORNBANK (KBank), Beacon Venture Capital Company Limited (Beacon VC) has announced its investment in T2P– a leading fintech firm in financial solutions – in order to develop the e-wallet business under the B2B2C model (Business to Business to Consumer). The initiative will allow customers to have a seamless service experience throughout the ecosystem, from application to interbank transactions and payment – both incoming and outgoing – with cost effectiveness. The company aims to advance the e-wallet business in order to provide digital lending while also adding payment acceptance channels.


Mr. Thanapong Na Ranong, Beacon VC Managing Director, said, “The company’s investment policy focuses on scouting and supporting innovative startups with potential, with the aim of enhancing KBank services. We have lately conducted strategic investment in T2P Co., Ltd. – a renowned fintech firm with long experience in financial solutions targeting corporate customers under the B2B2C model.


The joint investment aims to bolster KBank’s strengths through the e-wallet business order to better serve its corporate customers. This move will leverage the Bank’s strengths in financial business thanks to a strong base of more than 20 million retail customers and financial technology structure, together with the expertise and capability of T2P teams in developing the system for business and financial data linkage, including incoming and outgoing payment, with the aim of creating a seamless service experience throughout the supply chain, from the application process to interbank transactions and money acceptance-payment at the most competitive management cost.”


T2P Co., Ltd. is a comprehensive provider of B2B2C financial service solutions such as payment system, funds transfer, and white label e-wallets for corporate customers to settle goods and services payments via numerous channels nationwide. Presently, T2P enjoys a growth rate of more than 70 percent. T2P’s platforms offer services to more than 30 leading corporate clients who have more than 9 million retail customer accounts.


Ms. Supaneewan Chutrakul, KBank Executive Vice President, said, “KBank has promoted the use of digital solutions in the development of financial services for corporate customers and customer networks throughout the supply chain.” Strategies in the development of financial solutions to create business opportunities under this joint venture comprise the following:


1. Development of B2B2C ewallet to meet the needs of corporate clients of the Bank while also creating a satisfactory experience in conducting inter-bank and e-wallet transactions and in using products with more than 30 corporate clients of T2P, who have a retail customer base of more than 9 million accounts.


2. Development of API to link various financial services of KBank with B2B2C clients of the Bank via the white label e-wallet service, which is one of T2P’s strengths like top-up, payment and cash withdrawal services, thus allowing them to fully meet customers’ needs.


3. Adopting the technological structure of ewallet to enhance the potential of advanced digital lending. The Bank is considering the adoption of T2P’s technology for controlling and monitoring spending transactions through designated channels and participating stores based on specific purposes, while also facilitating payments for outstanding loans.


Mr. Taweechai Pureetip, CEO and Founder of T2P Co. Ltd., said, “T2P has developed e-money platforms and solutions since 2011 to create comprehensive wallet platforms in response to financial and related transactions. The systems developed by the company are designed to integrate with the systems of partners, thus receiving great feedback from leading corporate clients. Additionally, the company aims to further develop more innovations and be a trusted partner in the payment ecosystem for corporations.”


This cooperative support from KBank through Beacon VC is another milestone that will strengthen the company’s technological development. The focus is to serve KBank’s corporate customers in offering their own large number of clients more convenient access to financial services of the new era. Moreover, this investment will enhance the company’s capability in coping with the rise of financial technology disruption by developing and expanding the company’s IT personnel to be ready for idea creation and innovations that are constantly changing.


KBank launches VC arm Beacon Venture Capital with 1 billion Baht initial fund

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KASIKORNBANK (KBank) establishes Beacon Venture Capital (Beacon VC), a new organization to invest in VC funds and technology startups with potential to introduce new innovations or novel technologies that create long-term competitiveness towards sustainable business growth.


With initial fund of 1 billion Baht, Beacon VC became Thailand’s first bank-owned corporate venture capital to invest in a Thai startup in the form of VC by investing into accounting SaaS FlowAccount. Beacon VC is also investing in Singapore-based Dymon Asia – one of the leading fintech-focused VC funds in Asia.


The company is led by Mr. Thanapong Na Ranong as Managing Director. Mr. Thanapong is among the very first pioneers in terms of venture fund investments since the Thailand startup ecosystem’s early days and has vast experience in startup investments and mentoring.


Beacon VC’s investment policy includes direct investments in Thai and foreign startups as well as fund of funds investments into leading regional VC funds. The company’s goals for 2017 consist of direct investments into 3-5 startups and 2-3 VC funds.


Beacon VC’s main investment objective is to support KBank achieve sustainable profitability over the long-term. Its investment strategy aims to create value proposition for KBank products and services in terms of reduce timeline and cost involved for innovation development, maximize the first mover advantage so as to better access emerging opportunities, as well as developing technology expertise for KBank staffs and bolstering KBank’s leadership in technology capabilities.



The symbol of Beacon VC is a lighthouse that emits light directing its partner fintech firms and startups. “The Next Building Block” concept incorporates the ecosystem of the three units of KBank – Digital Partnership, KBTG and Beacon VC, allowing fintech companies to utilize KBank’s digital competency and market access (e.g., over 14 million customers) to develop cutting-edge products and services that meet the needs of customers in a rapid speed.


Beacon VC has been set up as part of KBank’s business strategies to create strategic digital capability. Recently, KBank established KBTG to focus on innovation creation in cooperation with its technology partners, as well as joining forces with fintech startups to create financial innovations so as to accommodate digital banking that has grown exponentially over the years. Most recently, the Bank of Thailand gave an approval to KBTG to test a new form of financial service in Regulatory Sandbox for the first time in Thailand. Based on a blockchain technology, this service is used to in the bank’s letter of guarantee services.

PRIMO receives Pre-Series A funding from Fuchsia VC and Beacon VC to turn its omnichannel marketing platform into a business infrastructure platform for the data-driven age

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Bangkok, 18 February 2022—A start-up whose speciality lies in omnichannel marketing platforms for large enterprises, PRIMO has received Pre-Series A funding from Fuchsia VC and Beacon VC and kicked off a sweeping development plan for all products across the board, namely its platforms for customer relationship management, customer data, and partnership management. As a result of the business expansion, PRIMO is becoming more robust than ever as a solution for seamlessly bridging the junction between a brand and its consumers, and ultimately as an infrastructure by which large enterprises power their business through the data-driven age.

“Omnichannel marketing platforms have grown remarkably well despite COVID-19”, said


Vee Sirasoontorn, Cofounder and CEO of Primo World Company Limited (PRIMO).


“There is still much more room for growth, as all large enterprises seek omnichannel marketing tools that facilitate consolidating customer data from the whole spectrum of channels. Processing them serves as a basis from which to devise seamless experiences for segment-based engagement.


“PRIMO Omnichannel Marketing Platform is now more capable and flexible, and takes little time to set up. Marketers could quickly avail themselves of easy and efficient tools to transition into the data-driven age, building a kind of customer engagement that truly meets their objectives and targets the right groups.”

The Pre-Series A funding from Fuchsia VC and Beacon VC will drive three key activities:


(1) Increasing the capability of the omnichannel marketing platform, the capacity of its artificial intelligence, and engagement modes to support more ways in which customers may participate with a brand;


(2) Expanding personnel in both Bangkok and Phuket to accommodate a larger client base in all departments, particularly business development, product development, software development, engineering, and customer support;


(3) Testing new products and business ventures to prepare PRIMO Omnichannel Marketing Platform as a customer-data infrastructure of choice for all companies in Thailand, while raising awareness of how to collect and leverage customer data systematically for the purpose of building the best customer experience.


“Business in the present and future digital era is and will be driven by data”, said Nadia Suttikulpanich, Head of Fuchsia Venture Capital Company Limited (Fuchsia VC). “Those who have the capability to convert customer data into customer insights are those with a competitive advantage. We believe that PRIMO has exactly the tool for this purpose. It assists businesses by providing systematic data collection, data analytics, and ability to translate insights into actionable marketing and CRM implementation. We strongly believe that PRIMO has the potential to grow and play a significant role in helping Thai businesses adapt to the digital era.”


“Beacon VC, a venture capital arm of Kasikornbank, is pleased to be a part of this Pre-Series A funding for PRIMO, a Thai start-up with the technology and expertise to manage customer data—the heart of business operations in the modern world”, said Thanapong Na Ranong, Managing Director of Beacon Venture Capital Company Limited (Beacon VC). “We believe that with PRIMO, Thai entrepreneurs are going to get better at analyzing data and offering products and services that accurately address their customers’ needs. Kasikornbank itself will be putting PRIMO to use to gain a deeper understanding of its customers and to develop a more precise strategy for targeting them.”


SOSV, the world’s top-five VC, and Infinity Technologies VC, who contributed to the Pre-Seed round, also took part in this round of funding. PRIMO is growing in leaps and bounds, raking in revenue with twofold growth year on year on average over the past three years. The number of personnel has risen from 18 in 2019 to 108 in 2021. The Omnichannel Marketing Platform has already served three sectors: retail, fast-moving consumer goods (FMCG), and finance—banks and insurance companies alike. Its strength is widely accepted, and flexibility demonstrated in practice as it grows in line with client requirements. PRIMO also provides its clientele with expert and upfront consultancy, proven to satisfy diverse business needs of large enterprises.


PRIMO plans to expand abroad, serving current clients whose business spans Southeast Asia while penetrating new clients in the region. PRIMO’s networking and outreach efforts, along with the tight-knit network of current investors—Fuchsia VC and Beacon VC—open the door to tapping a client base beyond Thailand in the future.



For press please contact

Moonshot Digital

Natiprada Kaewmanee

Tel. 080-241-4635 email: [email protected]


Primo World Co., Ltd.

Piyapun Jarunpong (Business Development Manager)

Tel. 089-697-9252 email:  [email protected]

Arapong Tuntisereerat (Marketing Executive)

Tel. 083-945-4654 email:  [email protected]

Beacon VC’s Mid Year Update

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Despite the problems caused by the resurgence of Covid-19 throughout Thailand, Beacon VC had a busy and productive first half of 2021.  Beacon has invested in three new portfolio companies, and has added the KATALYST team to the Beacon VC family to help build and support the Thai startup ecosystem during this difficult time.  Beacon also congratulates two of our portfolio companies on their successful fundraising rounds, as well as Grab, which is in the process of going public.


Portfolio Review: New Investments



Carro – Beacon joined the $360M Series C round in new automative marketplace unicorn Carro.  Carro provides a platform for buying and selling used cars, and leverages AI technology to transform and digitize the car buying and selling experience.


Builk – Beacon led the Series B round for Builk, Thailand’s leading construction tech startup.  Builk provides business management software and an online construction materials trading platform to construction companies of all sizes.


FoodStory – In May, Beacon led the Series B round for FoodStory.  FoodStory offers a wide array of restaurant solutions which help restaurant owners better understand, manage, and optimize their businesses.

As the corporate venture arm of KBank, Beacon aims to support collaborations between all three of our new portfolio companies with KBank in order to digitize, modernize, and provide better financial services to these industries.


Portfolio Review: Fundraising Updates

This past year, two of Beacon’s portfolio companies have successfully raised new rounds.  Nium became Southeast Asia’s first B2B payments unicorn following a $200M Series D.  Thai accounting platform FlowAccount has also recently raised a $4M Series A round led by Sequoia Capital India.  FlowAccount was Beacon’s first ever direct investment in 2017.

Further, Grab announced its plans to enter the public market via a SPAC merger with Altimeter Growth Corp which will value Grab at roughly $39.6B, and is expected to occur in the latter half of this year.  Grab is the first of Beacon’s portfolio companies to enter the public market.


Beacon News and Updates: KATALYST

This year, Beacon would like to introduce the KATALYST team to the greater startup community in Thailand and Southeast Asia. KATALYST focuses on three main areas: ecosystem building, embedded payments and services, and strategic collaboration.

Despite the on-going pandemic, KATALYST and Beacon have continued to hold events for the community, such as KATALYST Talk with Brad Paisan and  KATALYST Talk with EventPop and Penguin Eat Shabu, and to support Beacon’s portfolio companies and Katalyst partners with webinars on key topics like “ESOP Structure Analysis.”



KATALYST is also running the KATALYST E-Learning Program for the second year.  This 9-week Technology and Innovation Entrepreneurship Program by the Stanford Thailand Research Consortium aims to apply a fundamental and hands-on teaching method to help tech startups take their ideas to market and scale their businesses. This year, 65 teams have been selected to join the program.


Beacon News and Updates: Research


In the first half of the year, the Beacon team has done a great deal of research on new trends and financial technology in our capacity as the CVC arm of KBank.  We publish quarterly to share our research for the benefit of the startup community and Thai ecosystem.  Our latest reports include blockchain financebanking-as-a-service and data-as-a-service, and SPACs.


Feel free to reach us at [email protected] for more information, and stay tuned for more updates from KATALYST on the KATALYST Facebook Page!