Thailand's Jitta raises $6.5M to develop an algorithm-powered wealth fund

Jitta, a Bangkok-based fintech startup, has announced a $6.5 million round as it prepares to launch an investment fund for consumers in what would be a first for the Thai market. The deal, which is described as pre-Series A, is one of the largest in Thailand for some time and it was led by Beacon Venture Capital, the $30 million fund attached to Thailand's Kasikorn Bank. Founded in 2014, Jitta has developed a proprietary algorithm that helps to identify investment options on a range of stock markets that include the U.S., Thailand and other parts of Asia.