SABUY, SABUY Technology Public Company Limited, is venturing into the consumer lending business – specifically in provincial regulated lending (Pico Finance) and auto loans – capitalizing on the booming lending market. The company has acquired a 60% stake in the OMoney Group and invested in CarFinn to enhance its comprehensive auto loan services, strengthening its business potential for continuous growth.

Mr. Chookiat Rujjanapornpajee, CEO of SABUY Technology Public Company Limited, revealed that during the second board meeting of the company in 2022 on January 30, 2022, a resolution was passed to approve the investment framework for entering new business ventures with the following details:

1. Jointly invest in establishing a new company with the OMONEY Group (“OMoney”) with a maximum investment of 50,000,000 Baht, representing a 60% stake. The objective is to acquire 100% shares in three companies within the OMONEY Group, which include OMONEY Bangkok Co., Ltd. (“OMB”), OMONEY Pathum Thani Co., Ltd. (“OMP”), and OMONEY Samut Sakhon Co., Ltd. (“OMS”). These companies hold licenses for regulated provincial consumer lending (Pico Finance) and are developing applications and artificial intelligence (AI) systems for consumer lending. With Pico Finance licenses covering three provinces, they can immediately commence Pico Finance lending operations. Additionally, the Digital Lending system can be adapted for other lending businesses within the company. Furthermore, the OMONEY Group has an MOU with a human resource management service provider with over 400,000 clients, which will help expand the customer base within the SABUY Ecosystem and enhance other financial services, including access to factory workers and migrant laborers.

2. Invest in acquiring common shares of CarFinn Inter Group Co., Ltd. (“CarFinn”) with a maximum value of 30,000,000 Baht, representing a 20% stake in CarFinn, and support CarFinn in providing loans to its customers. CarFinn operates a comprehensive auto loan service for all types of vehicles, including refinancing for existing loans and short-term loans for customers in need of quick cash, primarily using a digital platform and online marketing through channels like Facebook, Google, and YouTube. This approach allows for greater customer reach, reduced costs, and the ability to track customer behavior for marketing and strategic planning.

Through this collaboration, the company expects to strengthen its Ecosystem, increasing the range of financial services offered and creating synergies with CarFinn, particularly in the customer base for loans to SABUY Capital and expanding the customer base for auto insurance with SABUY Maxi. With CarFinn as a partner, which specializes in lending, SABUY Capital will also provide a credit line to CarFinn of up to 100,000,000 Baht at an interest rate of 7% per annum to facilitate its business expansion, expected to be completed by April 2022.

Additionally, SABUY plans to invest in human resources by establishing SABUY Campus as a development center for SABUY and its partners, which can also serve as an institution to help develop SMEs, a crucial customer base. Furthermore, SABUY aims to develop new teams by seeking and providing opportunities for fresh graduates from leading educational institutions both domestically and internationally to join SABUYVERSE. All of these initiatives are part of the strategic plan for 2022, aiming for significant organizational growth within this year,” Mr. Chookiat concluded.