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Thailand’s Jitta raises $6.5M to develop an algorithm-powered wealth fund
Jitta, a Bangkok-based fintech startup, has announced a $6.5 million round as it prepares to launch an investment fund for consumers in what would be a first for the Thai market.
The deal, which is described as pre-Series A, is one of the largest in Thailand for some time and it was led by Beacon Venture Capital, the $30 million fund attached to Thailand’s Kasikorn Bank. Beacon picked up the majority of the capital but an existing angel investor, whose identity was not disclosed, also took part. Kasikorn and Jitta are not actively collaborating at this point, but there is obviously the potential to do so in the future.