Siam Commercial Bank (SCB) has announced that the Robinhood application, known for its commission-free services in food delivery and hotel bookings, will terminate operations on July 31. The announcement was made following approval from SCB’s holding entity, SCB X Plc, as financial losses at the operating subsidiary Purple Ventures Co Ltd have continued to mount, despite a 34% increase in revenue to 724 million baht in 2023. Losses deepened to 2.1 billion baht, triggering the decision to shut down.
As part of SCB X’s…