Bitkub Capital Group Holdings recently announced that it is ready to raise 300 billion baht more in its Series A funding round after its business grew by 10% last month.
In August 2019, Bitkub raised 50 million baht in its Pre-Series A round, which brings the company’s valuation at 750 million Thai baht (25 million US dollars). In May 2019, Bitkup received funding from Siam Rath Group, Dtac Accelerate and SeaX Ventures.
Jirayut Srupsrisopa, CEO and co-founder of Bitkub, stated that the fundraising began after the company has proven that its business model, as well as the expanding customer base, is making steady revenue growth. The funds raised will go a long way to advancing the company’s growth and help Bitkub to further its goal of bringing crypto investments to a wider pool of Thai investors.
“Bitkub is expected to make its initial public offering (IPO) on the market for alternative investment (mai) in 2021,” said Srupsrisopa.
Bitkup CMO Sukrit Putthawiriya said the company aims to be one of the top crypto companies in the blockchain industry. He further assured that the company will grow through its digital asset exchange licence.
“We see that we will be a one-stop service hub in Blockchain, in all business aspects in Thailand. In the future, we hope that more Thais will understand and gain more access to the technology,” said Sukrit.
Bitkub also plans to add more products to the market and more tools to its website, develop digital infrastructure and applications to be ready for this and also, improve their business workflow.
