Thailand’s fintech sector has historically lagged behind that of ASEAN counterparts such as Singapore or Vietnam, but recent regulatory efforts by the Bank of Thailand as well as booming adoption of digital payments are set to pave the way for strong growth in the financial startup scene.
Local venture capital (VC) firms have raised their guard against investment in fintech and startups following the Silicon Valley Bank (SVB) fallout in the US.
Stripe, a financial infrastructure platform for businesses, on February 17 announced partnerships with Krungsri Finnovate, the corporate venture capital arm of Krungsri (Bank of Ayudhya PCL), and venture capital firm 500 Thailand to accelerate the growth of Thailand’s vibrant startup ecosystem.
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