List of 5 unicorn startups in Thailand (Sep 2024) - Tracxn (2024)

A unicorn is a startup marked at USD 1 Billion or more. These are highly innovative and market disruptive startups.

Thailand

has

more than

10.3K+

startups. Of these,

5

have

become Unicorn

s

, with the latest entrant to the club being

LINE MAN Wongnai

on

Sep 26, 2022

.

In 2024, Thailand has seen no new unicorn startups.

Globally,

Thailand

is number

25

in terms of total Unicorns created

, behind

Norway

(

5

unicorn

s

) at rank

24

and

Finland

(

5

unicorn

s

) at rank

23

.

Bangkok

leads the list of cities in

Thailand

with most unicorns at

5

.

Among sectors,

Retail

has seen the most unicorns created at

3

, followed by

FinTech

at

3

, and

Consumer

at

2

Here is a list of all

5

unicorns created in

Thailand

:

Online platform provides food ordering and delivery solution. Its solutions includes food delivery, grocery delivery, messenger, and taxi. It also provides POS, advertising, financial services, and more.

Key facts about LINE MAN Wongnai

• Founded Year: 2020
• Location: Bangkok (Thailand)
• Primary Sector: Food Tech, E-Commerce Enablers and Logistics Tech
• Time to Unicorn: 2 years 8 months
• Latest Funding Round: Series B, Sep 26, 2022, $265M
• Top investors : GIC, BRV Capital Management
• Annual Revenue: $223M as on Dec 31, 2022
• Valuation: $1B as on Sep 26, 2022
• Total Funding till date: $375M

Integrated e-wallet and contactless payment solutions for businesses and consumers. It offers merchants and companies payment gateway solutions. It enables businesses to accept payments online and offline using credit/debit cards, bank transfers, and other methods. It also has a dashboard for tracking transactions.

Key facts about Opn

• Founded Year: 2013
• Location: Bangkok (Thailand)
• Primary Sector: Payments
• Time to Unicorn: 9 years 4 months
• Latest Funding Round: Series C, May 09, 2022, $120M
• Top investors : MUFG, Global Brain
• Valuation: $1B as on May 10, 2022
• Total Funding till date: $222M

Cryptocurrency exchange and trading platform. It allows users to buy and sell Bitcoin, Ethereum, Cardano, Wanchain, and OmiseGO in tokens. It provides cryptocurrency market data and cryptocurrency news. It also offers APIs to support third-party projects.

Key facts about Bitkub

• Founded Year: 2018
• Location: Bangkok (Thailand)
• Primary Sector: Cryptocurrencies
• Time to Unicorn: 3 years 10 months
• Latest Funding Round: Series A, Jul 03, 2023, $17.8M
• Top investors : dtac
• Annual Revenue: $33.2M as on Dec 31, 2023
• Valuation: $1B as on Dec 01, 2020
• Total Funding till date: $21.6M

Financial services platform for individuals. Its product includes True Money, an app-based wallet for money transfers and online payments, Ascend Wealth for mutual funds, Ascend Nano for consumer and business loans, and more. App is available on iOS and Android devices.

Key facts about Ascend Money

• Founded Year: 2013
• Location: Bangkok (Thailand)
• Primary Sector: Payments
• Time to Unicorn: 8 years 8 months
• Latest Funding Round: Series D, Jun 27, 2024, $195M
• Top investors : Ant Group, MUFG
• Annual Revenue: $2.75M as on Dec 31, 2021
• Valuation: $1.5B as on Sep 28, 2021
• Total Funding till date: $345M

Offers end-to-end delivery solutions for e-commerce logistics companies. It also provides integrated service deliveries in Thailand, the Philippines, and Malaysia. It is also an undisputed leader in next-day delivery and nationwide coverage, utilizing technologically advanced processes, and state-of-the-art facilities.

Key facts about Flash Express

• Founded Year: 2017
• Location: Bangkok (Thailand)
• Primary Sector: Logistics Tech
• Time to Unicorn: 4 years 5 months
• Latest Funding Round: Series F, Dec 01, 2022, $447M
• Top investors : SCB 10X, Banyan Ventures
• Annual Revenue: $424M as on Dec 31, 2022
• Valuation: $2.1B as on Jan 29, 2023
• Total Funding till date: $997M