Krungsri Finnovate, the corporate venture capital (CVC) arm of Krungsri (Bank of Ayudhya PCL), said on Monday that it has backed three global startups including AlpacaDB, Incorp (Alpaca), Qoala Technology PTE LTD and Whale Technologies Limited.
Krungsri Finnovate said in a statement that its startup investment portfolio for the first seven months of 2026 included three leading startups in the artificial intelligence (AI), InsurTech, and FinTech sectors — all fast-growing companies with strong momentum and long-term global potential.
Alpaca is a U.S.-based startup developing wealth management and foreign exchange platforms. It provides brokerage-as-a-service solutions, offering API connectivity and back-end infrastructure for wealth management platforms at leading financial institutions and securities firms.
Qoala is a Singapore-based InsurTech startup serving customers across multiple ASEAN markets, including Thailand.
Whale is Krungsri Finnovate’s most recent investment, with the deal closed in July. The firm is an enterprise AI platform that helps businesses elevate customer experience, drive sales, and maintain consistent operational standards across channels.
The platform uses AI to analyze visual, audio, customer behavior, and real-time operational data, and serves businesses across a range of industries in North America, Europe, the Middle East and North Africa, and Asia Pacific.
“Krungsri Finnovate’s investments since the start of the year have centered on international startups, in line with our strategy of investing in global megatrends — particularly technologies reshaping the structure of business and financial services,
“These three investments were made through Finnoventure Private Equity Trust I, which has backed 20 startups since 2021 and continues to deliver strong, consistent growth. We expect Krungsri Finnovate to make further investments throughout the year,” said Palida Artispong, Acting Managing Director, Krungsri Finnovate.
As AI technology continues to advance, she sees countless AI solution providers have emerged in the market.
“Whale, however, is one of the few with the potential to become a native, enterprise-grade AI platform — one capable of powering end-to-end, omnichannel products across the entire customer experience journey. That’s a key reason Krungsri Finnovate chose to invest,” she said.
Alpaca and Qoala, meanwhile, are two fintech companies underpinning the digital infrastructure of the financial services industry, she added.
“Both are advancing their technology to help financial institutions keep pace with consumer behavior that is growing more complex and changing faster than ever, while expanding their solutions across multiple regions worldwide,” she noted.
Beyond the opportunity to grow the firm’s investment portfolio, she said a core focus of the firm’s startup investments is finding opportunities to connect these startups with the businesses across Krungsri Group.
“As Krungsri continues to expand regionally, investing in international startups with strong regional or global potential helps drive collaboration with our businesses and partners,” she added.
Krungsri Finnovate’s investment portfolio is currently valued at approximately THB 5,000 million ($150 million), spanning investments in more than 30 startups across Thailand, ASEAN, and international markets — including four unicorns.
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