Line Man Wongnai, an e-commerce platform for food delivery, grocery delivery, taxi, messenger, restaurant reviews, and restaurant solutions in Thailand, has raised US$265 million in a Series B investment round led by Singapore’s GIC and LINE Corporation.
BRV Capital Management, PTT Oil and Retail Business Public Company Limited (OR), Bualuang Ventures, and Taiwan Mobile also joined the round.
With this investment, Line Man Wongnai has achieved over US$1 billion to become Southeast Asia’s latest unicorn.
The funding will be used to expand new service categories, recruit tech talent, and improve tech infrastructure. The firm aims to employ more than 450 tech professionals by end-2022.
Line Man Wongnai was established in 2020 following the merger of Thailand’s leading on-demand assistant app Line Man and restaurant review platform Wongnai.
Also Read: Thai restaurant reviews platform Wongnai invests US$1M in restaurant PoS startup FoodStory
Line Man’s services include food delivery, grocery delivery, messenger, and taxi. It claims the number of orders made each month through the food delivery service grew by more than 15x between January 2020 and August 2022. Now, it operates in all 77 provinces in Thailand, offering delivery options to 700,000 restaurants.
On the other hand, Wongnai connects close to one million merchants to users nationwide through search and reviews. In addition, Wongnai’s point-of-sale solution has won over 50,000 merchants in the F&B industry.
Utilising a large base of customers, riders, and restaurants, Line Man Wongnai offers advertising and financial services, among others, to incrementally add value to the stakeholders in the ecosystem.
Yod Chinsupakul, CEO of Line Man Wongnai, said: “Food has been our passion since I co-founded Wongnai, and now, to connect millions of users with the biggest pool of restaurants we have is a dream come true. We are also proud to create over 100,000 rider jobs, most of whom earn more than twice the minimum wage.”
In Young Chung, CFO, Line Man Wongnai, added: “The announcement opens the next chapter for us to grow from a local Thai startup to a regional tech platform.”
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