Mass transit service provider BTS Group has led a $9.1m series A round for Thailand-based consumer internet holding company Rabbit Internet, DealStreetAsia reported on Friday.
Rabbit Internet will function as a startup builder and investor, helping to develop branded consumer internet companies in Southeast Asia at early and growth stage. Its subsidiaries include personal finance platform Rabbit Finance, digital advertising company Rabbit Connect and e-commerce operator Rabbit Shopping.
Rabbit Internet is a joint venture between BSS Holdings, a financial services subsidiary of BTS that holds 55% of the company, and investment firm Alpha Founders, which owns the rest.
Johannes von Rohr, the co-founder and managing director of Rabbit Internet and an investment partner at Alpha Founders, told DealStreetAsia the funding would support its financial, media and content-related activities.
“We plan to make at least 1-3 investments this year,” von Rohr said. “Thai startups which want seed funding in the range of $50,000 to 500,000 are welcome to talk to us. We not only provide capital, but also substantial acceleration with user base and media.”