Say hi, it's LINE MAN Wongnai! This Thai food delivery firm just raised a $265M Series B round co-led by GIC and Japan's LINE Corporation. And after hitting a $1B+ valuation, they're ready to do a whole lot more.

Investor check. BRV Capital Management, PTT Oil and Retail Business (OR), Bualuang Ventures and Taiwan Mobile also joined in.

• LINE MAN Wongnai joins fellow Thai $1B tech companies Flash Express and Ascend Money.

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❓ Who's the man?

LINE MAN Wongnai was born in 2020 out of a merger (no, not a JV) between LINE MAN and Wongnai, a restaurant review platform.

• LINE MAN launched in Thailand in 2016 as an on-demand services app.
• They also bagged a $110M investment from early PayPal and Waze investor BRV Capital Management to boost the new LINE MAN Wongnai entity.
• Their monthly orders for food delivery have grown over 15x between January 2020–August 2022.

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😮 Man, that's a lot!

They've got LINE MAN's on-demand services like food delivery, grocery delivery, package delivery and taxi-hailing. But that's not all!

Wongnai. They also have Wongnai's platform, which connects close to 1M merchants to users through searches and restaurant reviews. Plus, they've got one of Thailand's top POS solutions with over 50,000 customers.

And more. With tons of customers, riders and restaurants, they also offer "value-add services" like advertising and financial services to help them.

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💰 What's with the $$$?

They'll be focusing on strengthening LINE MAN Wongnai's position in the food delivery market. Oh, and they'll also be expanding to new services, leveling up their tech and growing the team. And long-term, they plan to go regional!

• Other players in Thailand's food delivery industry include foodpanda, Grab, AirAsia Food, ShopeeFood and SCB Group's Robinhood.