SCB10X , a holding company of Siam Commercial Bank (SCB), is actively investing and partnering with potential tech companies and startups worldwide to realize its “Moonshot Mission” and vision for digital work & lifestyle ecosystem development and innovation. SCB 10X’s latest significant investment is in Flash Group, a leading Thai full-service e-commerce solution provider and the parent company of express delivery provider, Flash Express. SCB 10X is a lead investor in Series D+ funding round and continues investment in Series E funding. The strategic investment and partnership will strengthen both SCB Group and Flash Group as they join hands to develop digital lending and payment solutions to promote financial inclusion as well as other services in the future.
In announcing the new strategic investment, SCB 10X Chief Business Development and Financial Officer Pitiporn Phanaphat said that “Among SCB 10X’s key missions is seeking investment in potential startups worldwide, including supporting the growth of potential Thai startups so that they can compete in the global arena. Flash Group has shown its strength and potential with outstanding exponential growth. The constant growth of e-commerce and ever-changing consumer behavior during the Covid-19 pandemic has led to a huge increase in online shopping. Seeing the potential and leapfrogging growth in logistics businesses, we are very delighted to be a lead investor in Flash Group’s Series D+ funding round, and we continue to invest in Series E funding round.”
“Apart from our support through this strategic investment, SCB Group and Flash Group plan to synergize their strengths and collaborate on developing financial products and solutions such as digital lending for retail customers and sSME and payment solutions to promote financial inclusion, utilizing our new financial experience before rolling out to other services in the future. We do hope that our investment and partnership with Flash Group will strengthen Flash Group’s business and support SCB 10X’s Venture Builder arm in terms of a social-commerce ecosystem by leveraging our capabilities in developing and providing e-commerce solutions.”
Flash Group Chief Executive Officer Komsan Lee said, “We are both proud and delighted with our partnership with SCB 10X and SCB, as one of our lead strategic investors in Series D+ funding round and Series E funding round. The success we share today is a result of the common goal between Flash and SCB, namely adding value through synergy and collaboration to support both businesses in achieving our goals. As for Flash Group, we take pride in our position as Thailand’s first total e-commerce solution provider. All the businesses under our umbrella have been initiated and developed to cater to domestic and international e-commerce markets. Flash Express is a total logistics provider that is different from other players, with IT infrastructure as the backbone driving the business. With a highest 2 million parcels shipped daily, Flash Express is a leading express delivery provider in Thailand. Flash Fulfillment provides total inventory management solutions to perfectly fulfill the workflow of online merchants, including storage, packing, and shipment. Flash Group also has other businesses to help support e-commerce platforms. Having strategic investors is one of our strategy as we believe that good partnerships will support and strengthen foundation for our businesses with long-term growth.”