24 August 2021
Bangkok (24 August 2021) – Krungsri Securities Plc. (KSS) prepares to launch the first “Debt Crowdfunding Portal” among Thai securities firms, aiming to provide Thai SMEs with easier access to financial resources via its debt crowdfunding bonds. This will be a new alternative of fund-raising for business expansion to enhance competitiveness and drive the growth of the Thai economy in the future. In addition, it will drive the strategy of Krungsri Group’s Medium-Term Business Plan covering 2021-2023 in strengthening the ecosystem and partnership, so as to continuously develop services that are more relevant and more efficient for customers.
Mr. Thanat Wongchukaew, Managing Director at Krungsri Securities Plc. (KSS) said “The fundraising and investment via KSS’ Debt Crowdfunding Portal or known as bonds issuer, are not only a new fundraising channel for SMEs and startups, but also an alternative for investors who seek yields from bonds. Moreover, it is a channel for asset diversification for all types of investors; retail investors, non-retail investors namely corporates, venture capitals, private equities, and qualified investors alike.
In June, KSS was approved by the Securities and Exchange Commission (SEC) to provide the service of Debt Crowdfunding Portal. It is considered the first securities firm that received such approval on this type of business. Currently, KSS is preparing the system to accommodate the upcoming transactions and developing manuals for interested investors. It is expected that the funds raised through the Debt Crowdfunding Portal will be around 700-1,000 million baht. KSS is determined to be the facilitator for prospective fundraisers to be able to present their business plans to investors. Meanwhile, investors can study the business plans to help decide their investment on the Debt Crowdfunding Portal throughout the fundraising period. We expected the service to be available in the 4th quarter of 2021.”
Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, said, “Having KSS to be the provider of the Debt Crowdfunding Portal will help support SMEs in accessing funding for business expansion at lower expenses than receiving loans from commercial banks. Moreover, being registered in the Debt Crowdfunding Portal reflects the credibility and transparency of SMEs as they are required to disclose their financial information under the SEC regulations so as to build confidence, leading to more opportunities for future business networking. As a result, SMEs then can expand their business and increase their competitiveness. This is in line with Krungsri Group’s operations that aim to strengthen the ecosystem and partnership, in order to develop services that are consistently relevant to customers’ demands and more efficient.
During the first phase, Krungsri will introduce the Debt Crowdfunding Portal to our SME customers and invite them to take part, in order to be another alternative for funding of SMEs.”