Krungsri Finnovate, the corporate venture capital arm of Bank of Ayudhya PCL, announced its startup investment portfolio for the first seven months of 2026. The firm backed three fast-growing startups across the AI, InsurTech, and FinTech sectors.
Palida Artispong, Acting Managing Director of Krungsri Finnovate, stated that the year-to-date investments focused on international startups aligned with global megatrend strategies, particularly technologies altering business and financial service structures. These investments were executed through Finnoventure Private Equity Trust I, which has backed 20 startups since 2021. The firm expects to make additional investments throughout the year.
The three startup investments made during the first seven months of 2026 comprise:
- AlpacaDB, Incorp (“Alpaca”): A U.S.-based wealth management and foreign exchange platform provider. It delivers brokerage-as-a-service solutions, API connectivity, and back-end infrastructure for securities firms and major financial institutions.
- Qoala Technology PTE LTD (“Qoala”): A Singapore-based InsurTech startup operating across multiple ASEAN markets, including Thailand.
- Whale Technologies Limited (“Whale”): An enterprise AI platform provider and Krungsri Finnovate’s July investment. The platform analyzes visual, audio, customer behavior, and real-time operational data to assist businesses in customer experience, sales, and operational standards across North America, Europe, the Middle East and North Africa, and Asia Pacific.
Artispong noted that Whale stands out among AI providers due to its capability as a native, enterprise-grade AI platform powering end-to-end, omnichannel customer experience products. Meanwhile, Alpaca and Qoala supply digital infrastructure enabling financial institutions to match evolving consumer behavior while expanding solutions globally.
In addition to portfolio expansion, Krungsri Finnovate aims to connect these startups with Krungsri Group’s regional businesses and partners.
Krungsri Finnovate’s total investment portfolio is currently valued at approximately THB 5,000 million (USD 150 million), encompassing over 30 startups in Thailand, ASEAN, and international markets, including 4 unicorns.
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