Frasers Property invests $37.7m in BetterBe marketplace

The investment targets Thailand, Indonesia home-improvement marketplace.

Frasers Property will invest approximately $37.7m in capital injections into BetterBe, an online marketplace in Thailand and Indonesia for home building and improvement products.

The company and its subsidiaries will provide the loans and investments as part of a larger joint venture including Frasers Property Technology (Thailand) Co., Ltd. (FPTECH) and Thai Beverage Public Company Limited (ThaiBev).

This JV is investing in BetterBe as part of a project to advance technology and digitalsation in the real estate and beverage industries, according to a press statement.

The announcement specifies a loan of around $37.7m (THB 938.6m) being made available by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) to the joint venture, which in turn will support BetterBe’s operations and business growth.

A promissory note worth around $23.7m (THB 589.3m) is included in this amount in addition to a loan facility of $14m.

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