Siam Commercial Bank seeks to take on rivals with awesome delivery app


Thai lender Siam Commercial Bank Pcl said on Tuesday it would increase the services offered by its Robinhood food delivery app next year to include travel, parcel delivery and groceries in Asia’s second-largest economy. South East.

Robinhood was launched last year amid growing demand for food delivery due to lockdowns related to COVID-19 and now has around 2.3 million users and 26,000 passengers who process more than 150,000 orders per day.

“Next year will be a year of travel… Food is a leading product, but it strengthens our customers. That’s why we have to be a super-app, ”said Thana Thienachariya, president of Purple Ventures, a subsidiary of SCB, the country’s fourth largest lender.

Competition in Thailand’s food delivery market has intensified this year after Malaysian company AirAsia bought out Indonesian Gojek’s operations in Thailand and e-commerce platform Shopee, owned by Singaporean company Sea Ltd , has deployed a local food delivery service.

By 2023, Purple Ventures will have invested 4-5 billion baht ($ 120-150 million) in the app, Thana said. SCB will also seek investors for the app, he added.

Its travel feature will include hotels, flights and car rentals and will launch in February next year ahead of Songkran, the Thai New Year festival in April.

Its grocery service will focus on high-end products and stores that don’t exist in other apps, said Srihanath Lamsam, chief executive of Purple Ventures.

Reuters

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