Report Robinhood Steers Thailand's Food Delivery Future as Foodpanda Exits

[snoop1130]

Photo of a Robinhood delivery rider courtesy of Bangkok Post

 

Thailand’s food delivery landscape is undergoing a seismic shift, with Thai-native platform Robinhood stepping up to fill the void left by Foodpanda. On May 20, Robinhood announced a strategic agreement with Foodpanda Thailand, allowing for a seamless transition of customers, restaurant partners, and delivery riders before Foodpanda ceases operations on May 23.

 

"This agreement marks a big moment in Thailand’s food delivery industry," stated Morakot Yipintsoi, CEO of Robinhood. He emphasized Robinhood’s commitment to ensuring a smooth, equitable transition prioritizing service quality and care.

 

Foodpanda, part of Berlin-based Delivery Hero, had been grappling with financial challenges, holding a mere 5% market share and incurring losses of 13.8 billion baht from 2014 to 2023. Despite its wide presence across Thailand's 77 provinces, which included attempts to sell segments of its Southeast Asian operations, the decision to exit the Thai market was inevitable.

 

For Robinhood, operated by Purple Ventures under the Yip In Tsoi Group, this transition presents an invaluable opportunity to bolster its position in Thailand’s competitive food delivery sector, projected to be worth US$4.2 billion by 2024. Currently, the industry is led by Grab with a 46% market share and LINEMAN Wongnai at 40%, while Robinhood holds a modest 2%, poised to grow significantly with Foodpanda’s exit.

 

Initially launched during the pandemic by Siam Commercial Bank to support small businesses, Robinhood quickly gained traction with its no-commission model, a stark contrast to other platforms charging up to 40%. Though it now operates on a commercial basis, Robinhood maintains its ethos of fair pay, transparency, and fresh, non-batched deliveries.

 

To cater to a broader audience, Robinhood has enhanced its app with more English-friendly features, appealing to foreign users in popular tourist destinations like Pattaya. The company plans to extend its reach beyond Bangkok to key cities by the end of the year. Additionally, the introduction of Robinhood Mart—a marketplace for Thai handicrafts targeting international customers—highlights its ambition to evolve into a comprehensive “Thai Super App.”

 

As the food delivery industry increasingly pivots from an emphasis on discounts to focusing on quality and sustainability, Robinhood is positioned to disrupt the potential dominance of Grab and LINEMAN Wongnai, preventing a duopoly and fostering a diverse market landscape.

 

  Adapted by ASEAN Now from The Thaiger 2025-05-21

 

 

[Jingthing]

Robinhood?

I don't get it.

Steal from the rich to give to the poor.

Who are the rich and who are the poor in this relationship?

 

 

[treetops]

On 5/21/2025 at 10:43 AM, snoop1130 said:

To cater to a broader audience, Robinhood has enhanced its app with more English-friendly features, appealing to foreign users in popular tourist destinations like Pattaya.

 

They don't operate in Pattaya.

[Patong2021]

On 5/21/2025 at 6:09 AM, Jingthing said:

Robinhood?

I don't get it.

Steal from the rich to give to the poor.

Who are the rich and who are the poor in this relationship?

 

The history of the Robinhood app  is positive. It started during Covid as a  food delivery platform.  Siam Commercial Bank's parent entity SCB Group financed the start up. 

SCB Group's SCBX  entity came up with the idea of creating a “Robinhood” food delivery application, inspired by the securities trading firm of the same name that does not charge service fees. SCBX has a mission to make finance simple, accessible, and affordable for all through the power of technology and innovations.

Employing the same concept, the new food delivery platform did not charge any subscription, GP (Gross Profit), or other fees.  Eateries were able to recoup the full amount of their costs, allowing them to sell better quality food and offer larger portions.  Customers benefited by paying the actual food and delivery costs without extra charges.  The platform also allowed shop owners easier and quicker access to loans.

 

The company was then sold in September 2024  to a consortium led by the Yip In Tsoi Group, a Thai business group. The new owners say that they are committed to continuing Robinhood's mission of connecting people with merchants and supporting the Thai economy. (Although I suspect, not on the  altruistic format in place previously.)  The total transaction value was declared as up to 2 billion baht, consisting of an initial payment of 400 million baht and an additional performance-based payment of up to 1.6 billion baht.

[Patong2021]

2 hours ago, treetops said:

 

They don't operate in Pattaya.

 

The expansion  to other regions is planned for the end of 2025.

This is an important milestone because tourist  high season is when the largest profits are made. One of the reasons why the app is  English language emphasized is that the developers  had done market research and realized that there are many foreigners who want to order from different restaurants, but are hesitant to do so because of their poor Thai language skills.

 

Robinhood is  setting up the infrastructure and hiring the personnel to support additional geographic areas.

There are more than  2  delivery options (Lineman and Grab) because Shoppee also delivers food.

Hopefully, Robinhood will be more fair to drivers than the other 3. 

[Lemsta69]

9 minutes ago, Patong2021 said:

 

The expansion  to other regions is planned for the end of 2025.

This is an important milestone because tourist  high season is when the largest profits are made. One of the reasons why the app is  English language emphasized is that the developers  had done market research and realized that there are many foreigners who want to order from different restaurants, but are hesitant to do so because of their poor Thai language skills.

 

Robinhood is  setting up the infrastructure and hiring the personnel to support additional geographic areas.

There are more than  2  delivery options (Lineman and Grab) because Shoppee also delivers food.

Hopefully, Robinhood will be more fair to drivers than the other 3. 

 

I just installed the app and started the registration process. They want my full name and DOB. Fugdat.

 

I continued without registering and did a quick search for McDonald's. There are many near me so it is a good choice for a test. All of the nearby restaurants are showing as "closed" even though one of them operates 24/7 and a couple of the others are available via Grab.

 

This is central Bangkok, ie. the centre of the known universe. Buddha help them! 🤣

[GanDoonToonPet]

On 5/21/2025 at 5:09 PM, Jingthing said:

Robinhood?

I don't get it.

Steal from the rich to give to the poor.

Who are the rich and who are the poor in this relationship?

 

 

 

I went into Robin Hood bar in Bangkok and asked them to give me a free pint because I was poor. They threw me out. Hypocrites!