04 Mar 2021
Rabbit Finance acquires Asia Direct Insurance Broker
Rabbit Finance, the leading online brokerage for insurance and banking products, a member of VGI Group PCL (“VGI”), acquired Asia Direct Insurance Broker Co., Ltd. (“ADB”),a leading omnichannel motor insurance brokerage with annual sales revenue of over 90 Million Thai Baht.
Since inception, Rabbit Finance has raised funding of over 850 Million Thai Baht and starts its first acquisition with ADB in order to expand its motor insurance vertical through online and telesales and promote its digital platform to a wider audience. This is a step-stone to strengthen Rabbit Finance ecosystem towards the vision of becoming the first choice for insurance and banking advise. Moreover, Rabbit Finance expects synergies from shared IT services, operational excellence, and top line expansion through cross selling.
“With ADB joining the Rabbit Finance family, we are in a stronger position to fulfill our mission of providing great customer experience through digital platform and customer care center” Johannes von Rohr, Co-Founder of Rabbit Finance.
“Rabbit Finance is a strong online brand that possess vast technological expertise and powerful marketing capability. With this capital injection and the network of synergy from Rabbit’s group, we believe that ADB can leap ahead of our competitors in the market and thrive as one of the leading brokers in Thailand” – Mr. Narit Suwanich, Managing Director of ADB.
As Rabbit Finance grows, VGI benefits from a complete ecosystem of Offline-to-Online (O2O) Marketing Solutions creating sustainable value for VGI’s shareholders.