SABUY invests 20% in CarFinn
published : 27 Jun 2022 at 10:51
Sabuy Technology Plc has invested 30 million bath to hold 20% stake in CarFinn Intergroup Co (CarFinn) - a comprehensive auto loan service platform provider.
Sabuy Technology Plc (SABUY) has expanded business into auto loan business via holding CarFinn Intergroup Co., Ltd. (CarFinn) the comprehensive auto loan service platform provider which has a well-known experience in auto hire purchase and car for cash.
SABUY by Chukiat Rujanapornpajee, chief executive officer, has acquired 20% common share in CarFinn valued not more than 30 million baht. Both companies will have the mutual benefits on this investment. SABUY will gain on rising ecosystem through CarFinn’s customer base such as more products and services in financial service business via SABUY Capital Co.,Ltd. (SCAP) and extending auto insurance customer base via SABUY Maxi Insurance Broker Co.,Ltd. (SBMX).
CarFinn gets benefit by receiving loan worth 100 million baht from SCAP to expand its loan business under CarFinn’s cost of financing management. The process will be finished by July 2022.
Keattisak Keeratiyakonsaku, chief executive officer of CarFinn explains that CarFinn’s business plan will extend from auto loan to real estate loan and digital assets investment. He aims to push CarFinn to be listed in the Stock Exchange of Thailand in 2026. Capital One Partner will be appointed as financial advisor.
To achieve the goal, the business plans include lending collateral auto loan with maturity within 1 to 5 years, renewing life and non life insurance for CarFinn’s customers, being the digital marketing agency on the updated version of the CarFinn’s platform and lending the collateral real estate loan with maturity less than 1 year.