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Line Man Wongnai's Goal Is to IPO in Thailand: CEO – Bloomberg

On May 27th 2021, FoodStory, a leading POS & Restaurant Management System startup, announced that it recently raised Series B funding in a round led by Beacon VC, the venture capital arm of KASIKORNBANK PCL (KBank), with participation from JWD InfoLogistics PCL (JWD). The company plans to use the proceeds to support product development to improve restaurant operation efficiency. Additionally, FoodStory aims to enhance the Thai restaurant ecosystem by turning data into insights for restaurant owners to better understand and optimize their businesses for sustainable development. FoodStory offers a one-stop solution for various types of restaurants including sit-down restaurants, buffets, coffee shops, and food trucks. Users can get started with a single iPad. The platform also covers dine-in and delivery services management as well as backend operations including integration with accounting systems and FoodStory Market, the company’s own restaurant supply marketplace for purchasing raw ingredients online. FoodStory offers several subscription packages and hardware equipment to support diverse restaurant requirements. Nowadays, restaurants have greatly adapted to dynamic market conditions and are embracing technology. This aligns with FoodStory’s core mission to constantly develop and increase the efficiency of the system. FoodStory’s vision is to “Leverage Data To Connect Farm to Folk.”  The company is building on its existing POS and restaurant management system capabilities by turning data into insights that enable restaurants to efficiently grow their business. Mr. Thanapong Na Ranong, Managing Director of Beacon VC, revealed that “KBank’s core focus is to develop and provide financial technology to serve the needs of all customers and businesses in different sectors. Through Beacon VC’s investment and collaboration with FoodStory, we aim to support small and medium-sized restaurants by improving their access to financial products and funding through data utilization. Despite the uncertainty within the restaurant industry due to the pandemic, Beacon VC believes that FoodStory will play a crucial role in helping restaurant entrepreneurs to survive this crisis, especially as they shift from dine-in to take-out and food delivery. In addition, apart from supporting restaurant operations management, FoodStory’s solution allows restaurants to acquire new customers and improve sales.”
Mr.Tanate Piriyothinkul, Chief Commercial Officer of JWD InfoLogistics PCL, said that “JWD Group foresees the importance and growth potential of the food industry, especially through e-commerce channels, with an exceptional capability to thrive even further. JWD’s investment in FoodStory is one of the e-commerce strategies to accelerate food logistics business through an application platform in order to expand our food logistics to cover B2B, B2C, and C2C segments in the future. This growth will be enabled by cold chain express delivery service as well as an extensive network of temperature-controlled distribution centers and warehouses according to our business plan. We see FoodStory as an exceptional restaurant management platform which has high growth potential due to their business model, technology, and most importantly, the team with a strong vision and deep understanding of the total needs of restaurant businesses.”
Mr.Thagoon Chartsutipol, Founder and CEO of Living Mobile Co., Ltd., revealed that “for the past two years, we have developed the restaurant ecosystem through integration with LINE MAN and Wongnai in order to help restaurants increase their revenue. A year ago, we launched FoodStory Market with the concept of “A Place Where Suppliers Meet Kitchens” to facilitate online purchase of raw ingredients and address the pain points of price fluctuation, inconvenience in physical shopping, and employee fraud. Moreover, FoodStory Market has been fully integrated with the POS Inventory Management, online payment, and E-TAX Invoice modules. In order to empower a comprehensive restaurant ecosystem that connects Farm to Folk, we need a strong financial services partner like KBank and a cold chain logistics expert like JWD to fill these gaps and successfully build on the new form of supply chain business. About FoodStory
Living Mobile Co., Ltd., also known as FoodStory, is a Thai tech startup which provides POS and restaurant management systems, and a food supply marketplace called “FoodStory Market”. FoodStory has over 25,000 users. FoodStory was established in 2012 and was the winner of True Incube Asia Pacific Mobile App Challenge in 2014 and SME Teetak in 2016 as well as being ranked top in restaurant management category due to the company’s consistent growth. FoodStory previously raised from Wongnai in 2018 and just completed a Series B funding round from Beacon VC and JWD in 2021. About Beacon Venture Capital (Beacon VC)
Founded in 2017, Beacon VC is a wholly-owned corporate venture capital fund of Kasikornbank PCL. Beacon VC focuses on strategic investments in early to growth-stage technology startups covering not only financial technology (fintech) but also consumer internet and enterprise technology. Currently, Beacon VC has increased a fund size to $185 million to cover more diverse industries and has invested in several technology startups in Thailand and abroad such as FlowAccount, Jitta, Builk, Grab, Nium, and Aspire. About JWD Infologistics Public Company Limited (JWD)                                                                                                                    
JWD provides a complete range of services in logistics and supply chain covering 8 ASEAN countries covering more than 2 million square meters of service capacity. The company has a strong expertise in warehouse management and logistics services including dangerous goods, temperature-controlled goods, automotive and auto parts, and general goods. Other businesses include food supply chain, logistics IT solution and investment. Contact:

FoodStory Secures Series B Funding to Further Strengthen the Thai Restaurant Ecosystem

1 August 2020 Investment
A promising sign for Thai startups in the second quarter after Line Man merged Wongnai, a restaurant review platform, while securing fresh capital investment worth over 3.30 billion baht from BRV Capital Management to bolster the new entity for the global market competition. Previously, Wongnai announced its plan to raise Series C fund while delayed the plan to raise fund in the stock exchange market as the company would like its valuation reach at 10 billion baht. Line Man, a food delivery application disclosed that the company has met an agreement with BRV Capital Management (BRV) for the capital investment of US$110 million  (about 3,300 billion baht). The transaction marks the first time any entity in Line Group has secured a financial investment of this size for its overseas service and its readiness for growth in the future. At present, Wongnai has more than 10 million users each month and holds the largest restaurant database in Thailand, with over 400,000 restaurants nationwide, and Line Man app users have been able to order food via the Wongnai database. This capital investment aims to strengthen the newly merged entity and expand its development as it continues to grow in the Thai market. Line Man, which has operated in the Thai market under Line Thailand, offers six services: delivery of food, groceries, convenience store items and parcels, plus messenger and taxi hailing services. Line Man operates in Bangkok and several provinces, including Nonthaburi, Samut Prakan, Nakhon Pathom, Samut Sakhon, Ayutthaya, Chon Buri (Pattaya City) and Chiang Mai, with plans to expand further this year. The app has more than 100,000 partner restaurants. “We’re excited to be working with BRV Capital Management, a growth capital firm that has repeatedly shown it knows how to find and develop winners,” said Eunjung Lee, head of global business for Southeast Asia at Line Plus Corporation. “Since its launch four years ago, Line Man has grown into the most popular delivery app for Thais. This investment by BRV Capital Management will help take Line Man to the next level.”
BRV is a growth capital firm that led early rounds for PayPal and Waze, and operates local offices in South Korea, Japan and China. BRV is an affiliated entity of BlueRun Ventures, a US-based venture capital firm. BRV said it decided to invest in Line Man because of the company’s ongoing success at delivering innovative services for the Thai market, becoming a “daily assistant” for local users.

Line Man-Wongnai merger grabs 330 million baht

REUTERS/Athit Perawongmetha
October 26, 2020
 Thailand’s Siam Commercial Bank Pcl (SCB) on Monday launched a food delivery platform, Robinhood, amid growing competition in the sector in Southeast Asia’s second-largest economy. Robinhood is the latest entrant to offer Thai food delivery services, which have seen a surge in orders amid lockdown restrictions earlier this year during the coronavirus pandemic. The sector is currently dominated by Singapore-based Grab, Indonesia’s Go-Jek, Foodpanda, owned by Germany’s Delivery Hero SE and Japan’s Line Man Wongnai. Thailand’s fourth-largest lender, SCB, is an investor in Go-Jek, but has said their food delivery units operate separately. In a statement, SCB said that 10,000 riders were ready to deliver food. “The Robinhood app’s goal is to act as a bridge between 16,000 small merchants and customers,” said SCB senior executive Thana Thienachariya. The app aims to link to 30,000 restaurants by year-end. Rival lender, Kasikornbank Pcl, has also launched a food ordering platform, Eatable, but does not have its own delivery fleet. In July, the Japanese chat app, Line Crop, announced a merger between its food delivery unit with restaurant platform Wongnai and a capital raising of $110 million with plans to expand. Last week, Thailand’s competition watchdog announced guidelines for food delivery apps including charging commissions without advance notice and inappropriate charges for advertising and promotions. There had been complaints that food delivery platforms have increased their service fees for restaurants from 20% to up to 40%. SCB said Robinhood would not charge merchants gross profit commissions and vowed to settle payments to merchants within an hour and be entirely cashless. It will offer merchant-sponsored discounts for customers of 8%. Reuters
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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia. Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Thai Siam Commercial Bank launches food delivery app Robinhood amid competition

Thai Siam Commercial Bank launches food delivery app amid competition
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Thai Siam Commercial Bank launches food delivery app amid competition
Vendors wearing protective masks sell food in Chinatown, after the government started opening some restaurants outside shopping malls, parks and barbershops during the COVID-19 outbreak in Thailand. (File photo: Reuters/Soe Zeya Tun)
26 Oct 2020 04:23PM
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BANGKOK: Thailand’s Siam Commercial Bank (SCB) on Monday (Oct 26) launched a food delivery platform, Robinhood, amid growing competition in the sector in Southeast Asia's second-largest economy. Robinhood is the latest entrant to offer Thai food delivery services, which have seen a surge in orders amid lockdown restrictions earlier this year during the coronavirus pandemic. Advertisement
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The sector is currently dominated by Singapore-based Grab, Indonesia's Go-Jek, Foodpanda, owned by Germany's Delivery Hero and Japan's Line Man Wongnai. Thailand's fourth-largest lender, SCB, is an investor in Go-Jek, but has said their food delivery units operate separately. In a statement, SCB said that 10,000 riders were ready to deliver food. "The Robinhood app's goal is to act as a bridge between 16,000 small merchants and customers," said SCB senior executive Thana Thienachariya. Advertisement
The app aims to link to 30,000 restaurants by year-end. Rival lender, Kasikornbank, has also launched a food ordering platform, Eatable, but does not have its own delivery fleet. In July, Japanese chat app Line announced a merger between its food delivery unit with restaurant platform Wongnai and a capital raising of US$110 million with plans to expand. Last week, Thailand's competition watchdog announced guidelines for food delivery apps including charging commissions without advance notice and inappropriate charges for advertising and promotions. Advertisement
There had been complaints that food delivery platforms have increased their service fees for restaurants from 20 per cent to up to 40 per cent. SCB said Robinhood would not charge merchants gross profit commissions and vowed to settle payments to merchants within an hour and be entirely cashless. It will offer merchant-sponsored discounts for customers of 8 per cent. Source: Reuters/dv

Thai Siam Commercial Bank launches food delivery app amid competition

Singapore Tourism Board

The Singapore Tourism Board has entered into a strategic partnership with Wongnai , a leading online lifestyle media company in Thailand , to bring attention to the island state 's diverse food offerings .

Wongnai to carry reviews of Singapore cuisine in deal with tourism board

Thomson Reuters

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Wongnai is the developer of a restaurant and beauty salon review application. Wongnai features over 200,000 restaurants, beauty salons, and spas across Thailand on the platform, with detailed information about each merchant and user reviews.On July 30, 2020, Wongnai merged with LINE MAN.

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