Robinhood (SCB)

Business focus

Internet, E-commerce & Platforms

Description

Robinhood is a food-delivery app launched in 2020 by Siam Commercial Bank (SCB) via subsidiary Purple Ventures as a not-for-profit initiative charging restaurants no commission, meant to support small businesses during COVID-19. By 2024 losses reached 2.1 billion baht; SCB shut related services (ride-hailing, mart, express) on July 31, 2024, and sold the food-delivery business to Yip In Tsoi for 2 billion baht in a deal signed September 30, 2024.