StockRadars, a Bangkok-based service that aims to demystify investing in Asia’s stock markets, has scored a deal of its own after parent company SiamSquared closed a Series A round from Japan’s CyberAgent Ventures and East Ventures.
The deal is undisclosed, but TechCrunch understands that it is around $800,000 and at a $5-10 million valuation for the Thai startup. StockRadars currently covers the public markets in Thailand and Singapore, where it claims 150,000 users. CEO and co-founder Teerachart ‘Max’ Kortrakul told TechCrunch that the money will be used to expand the 18-month-old service into Indonesia and — over time — other parts of Asia Pacific including Australia, Hong Kong and Taiwan.
StockRadars is a free product for investing in public stock. Users can pay for ‘radars’, which are essentially layers of intelligence and analysis that help identify “hidden gems” in the stock market, as Kortrakul puts it.
Radars cost upwards of $0.99 (some are free, the most expensive is $200 for a year) and can be programmed to monitor for specific stocks, types of investment or give alerts — including notifications that a company director is selling stock, for example. Once set up, they report back to users with suggestions of stocks to invest in and pertinent information.
SiamSquared has a partnership with AIS, Thailand’s largest operator which is owned by Asian telco Singtel, after placing as a finalist in its domestic startup competition. Kortrakul said the collaboration with Singtel has included dedicated packages for subscribers and marketing which have increased StockRadars’ reach in Thailand and Singapore, and there are plans to extend the partnership into other countries perhaps in conjunction with expansions of the service.
StockRadars is available for iOS and Android with a web platform that’s currently in beta. Kortrakul said the objective is to make the app into a personal investment assistant for its users, and give them the confidence to invest in public markets.