BANGKOK—Stripe, a financial infrastructure platform for businesses, today announced twin partnerships to accelerate the growth of Thailand’s vibrant startup ecosystem. Stripe will collaborate with Krungsri Finnovate, the corporate venture capital arm of Krungsri (Bank of Ayudhya PCL), and the venture capital firm 500 Thailand. Together, they will provide resources and training to bolster the growing Thai startup community, which welcomed 1,000 new companies last year—a 10x increase from four years earlier.
“Stripe is excited to partner with Krungsri Finnovate and 500 Thailand to expand opportunities for Thai entrepreneurs and help them scale locally and globally,” said Tee Chayakul, country director for Stripe Thailand. “Our mission is to increase the GDP of the internet, and to do so, we need to enable businesses, especially upstarts, with the knowledge, tools, and human capital to help them thrive and succeed.”
Stripe will offer startups in Krungsri Finnovate and 500 Thailand’s portfolios more than $70,000 (THB 2.5 million) in fee-free Stripe processing and priority support, as well as discounted rates on Stripe Atlas for startups interested in establishing a US entity. Stripe will collaborate with both partners to offer exclusive access to workshops, virtual office hours, webinars, roundtables, and other initiatives that will help startups scale and expand internationally.
“Navigating the complexities of the payments landscape at speed is a challenge for many startups. We are excited to partner with Stripe to offer our industry expertise and technology capabilities to help startup founders optimize revenue operations and achieve their business goals,” said Sam Tanskul, managing director at Krungsri Finnovate.
“We’re thrilled to work with Stripe to help Thailand’s startup community benefit from the global digital economy and scale across geographies. Using Stripe’s financial infrastructure solutions and 500 Thailand’s industry know-how, we can help more businesses drive revenue growth by innovating with new business models,” said Mameaw Sapprasert, partner at 500 Thailand.
To learn more about the program, interested startups can email firstname.lastname@example.org.