Robinhood seeks profitability in 2026

Platform unveils digital member token

- NUNTAWUN POLKUAMDEE

Robinhood, Thailand's homegrown food delivery platform under Purple Ventures Co Ltd, expects to resume profitability next year after stepping up efforts to enhance customer loyalty and engagement through its new Robinhood Coin initiative.

Morakot Yipintsoi, chief executive of Purple Ventures, said when Robinhood announced a temporary suspension of its operations last year, the company's losses reached 9 billion baht.

"But we have seen the business improving gradually and our losses have been declining," she told the Bangkok Post, adding the company expects to turn things around and make a profit next year.

Formerly owned by SCB X Plc, the technology conglomerate and holding company of Siam Commercial Bank, Purple Ventures was sold to a group of investors led by Yip In Tsoi Group in September 2024 for 2 billion baht.

Regarding the company's strategy, Ms Morakot said next year's focus would be on launching campaigns to bring back merchants, especially small local vendors, to the platform as there are still "many potential partners in this segment".

Free delivery codes and discount codes will remain available, though the company will ensure it does not distort the market, she said. The average order size on Robinhood is 250 baht.