Thai employee financial well-being startup MoneyTable has closed $1.5m in a seed round from K2 Venture Capital and Kejora Ventures.
Individual investors Chatchaval Jiaravanon, the chairman of the board of Finansia Syrus Securities and Chualapayap Srikarnchana chairman of Asia Insurance also partipcated.
The Bangkok-based startup allows employees at businesses to discover personal financing options with big data and machine learning algorithms analysing applicant’s credit scores to help offer them suitable products.
MoneyTable aims to launch the service later this year and says it will use the new capital to reach one million users by the end of 2017.
Part of its strategy in reaching this target is partnering with HR software providers and says it has already forged a deal with Humanica, which counts more than 300,000 subscribers.
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