According to Indonesian finance management app Jojonomic, such kind of service is not available yet in Thailand
Indonesian fintech startup Jojonomic has officially announced their expansion to the Thailand market. The startup has previously operate in Indonesia, Singapore, and Malaysia. The service’s presence in Thailand is part of their commitment to reach users in Southeast Asia; Jojonomic has set up an office in the country and recruited several local talents.
Jojonomic CEO Indrasto Budi Santoso, who is widely known as Asto, said that the company is attracted to the opportunity of expanding to Thailand due to the potential of its market, market growth, and the momentum of ongoing digital transformation. They are trying to look into these promising prospects.
“Previously Jojonomic has already had customers in Thailand, so we see an opportunity these. Especially considering the fact that there is no company yet in Thailand that is doing what we are doing,” Asto explained the reason behind the expansion further.
As one of the fintech startups providing finance management system, Jojonomic claimed to have secured a “significant” number of users. Asto told DailySocial that they have been trusted by “thousands of corporate staffs.”
Through their expansion, Jojonomic aims to provide their key feature: a multi-currency system. The platform currently provides automatically updated exchange rate of major global currencies.
Also Read: Jojonomic secures US$1.5M to help Southeast Asia manage its finances
As for their expansion plan in Thailand, Asto said that apart from opening an operational office in the country, Jojonomic also plans to recruit local talents. The majority of Jojonomic teams abroad consist of sales representatives.
Despite having had secured users in Thailand, a full expansion to a new country requires special strategy. Asto explained that the greatest challenge in entering a new market is introducing the product, as the company is trying to do in Thailand.
“The greatest challenge in entering a new market is introducing the product, because this product is something new and it is requires a change of mindset in order for it to work,” Asto adds.
Since its founding in 2015, Jojonomic had been planning to embrace the Southeast Asian market. As they are now available in four markets, the company is getting closer in making their dream comes true. Asto also expected that starting from this expansion, there will be more countries using the Jojonomic app.
“In the future, we expect that there will be more [users from] other countries to use Jojonomic app. Hopefully this year, and the next years, Jojonomic will continue to reap success. In the near future we will announce a new surprise feature and a new innovation from Jojonomic. Stay tuned,” Asto closed.
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The article Strategi Jojonomic Berekspansi ke Thailand was written by Prayogo Ryza and first appeared in DailySocial. English translation and editing by e27.
The post Jojonomic speaks up about their Thailand expansion strategy appeared first on e27.