Thailand-based event venue platform Event Banana announced today it has received THB20 million (US$607,000) investment from SMEs Private Equity Trust Fund II by Thailand’s Government Savings Bank (GSB) and the Stock Exchange of Thailand (SET) managed by Expara, a Southeast Asia-focused VC.
JASPAL Group and 500TukTuks also participated.
Event Banana’s platform is designed to help users discover and book venue for meeting, seminar, party, and company events. With the pre-Series A new funding, their plan to become a one-stop service platform is on its way, starting off with online catering service in partnership with Central Restaurant Group (CRG) to offer snack box and lunch box for meetings and seminars.
“Event Banana is looking to help our users discover their event venue as well as allowing them to request the quotations from multiple venues at the same time to get the best deal. Our platform also supports venue owners to boost their properties utilisation and their sales,” said Nattanich Thongkraisaen, Event Banana Co-Founder and CEO.
Event Banana claimed to have more than 41,000 users per month and over
1,200 listed venues with 3,800 event spaces around the country on the platform.
Readying up to fulfill its new concept as DIY Solutions, the Dtac Accelerate Batch 6’s alum is now moving towards becoming full-fledged services and items providers for an event—including catering, decorations, light & sound, registration system, and theme designs—without management fee.
“We believe in Event Banana’s concept and business model, which makes this our first venture in the startup scene. Their concept can help us in utilising unused spaces in the future as well,” said Khevin Singhsachathet, JASPAL Group.’
According to Anix Lynch, a partner of Expara, the manager for SMEs Private Equity Trust Fund (2nd Batch) by the Government Savings Bank (GSB) of Thailand, there’s a potential growth in commercial real estate in Thailand and ASEAN, and with the attempt to increases Asset Utilization by Sharing-Economy concept boom seen recently in Japan and Europe, Event Banana is on a track to reap from the ecosystem.
Image Credit: Event Banana