WHA Group Invests in Mungmee B2B E-Commerce Startup that Aims to Revolutionize Thailand's Traditional Trade

Bangkok, 13 September 2022 – WHA Venture Holding Co., Ltd. (WHAVH), a wholly-owned subsidiary of WHA Corporation PCL, recently announced that it has invested approximately THB 34 million in Mungmee, a Thai startup that is revolutionizing Thailand’s traditional trade by integrating digitization, advanced technology and data in the supply chain.

Founded in 2021, Mungmee’s objective is to create a B2B E-Commerce platform that connects brands, agents, distributors, wholesalers, and retailers across Thailand to transact in a faster and better way by leveraging data and technology. The platform offers fair access to price, promotion and product assortment for retailers while boosting efficiency in operation processes including store management, order management, marketing tool, and customer access for brands, agents, distributors and wholesalers.

WHAVH’s investment was finalized in early September as part of Mungmee’s second seed round fundraising phase. This will enhance Mungmee’s business capabilities to penetrate Thailand’s traditional trade market (representing 50% of the country’s FMCG market size) that is estimated to reach THB 1 trillion (over USD 30 billion) in 2026. Synergies also exist for the integration of Mungmee’s E-Commerce value chain with WHA Group’s well-established logistics ecosystem, including premium warehouses, distribution centers, and transportation management system offered by leading E-Logistics start-up Giztix, in which WHA Group invested last year.

Ms. Jareeporn Jarukornsakul, Chairman and Group CEO of WHA Corporation PCL., commented: “Mungmee’s vision to facilitate and accelerate the digital transformation of Thailand’s traditional trade fits with our ‘Digital Innovation and Transformation’ plan to offer new products and services in collaboration with dynamic startups. Our investment is also in line with our group’s strategy to expand our customer base and play a bigger role in supporting Thailand’s supply chain. It will enable us to penetrate a new sector and accompany its transformation, representing another expansion channel for WHA Group.”

“As Thailand’s leading player in logistics, WHA Group is committed to support and empower Thai startups and entrepreneurs that bring innovations and technologies to the forefront. We will continue to seek new investment opportunities both in Thailand and the region to expand our businesses and achieve sustainable growth,” she added.

The Mungmee app is currently assisting 3,900 mom-and-pop shops, mainly in 3 provinces in the Northeastern region of Thailand (Udonthani, Nakhon Ratchasima and Sakonnakorn), and plan to expand regionally to cover 12 major strategic provinces in 2023 and 36 provinces in early 2025.