Robinhood takes over as Foodpanda bows out of Thailand
Struggling food delivery app exits Thai market, Robinhood eyes rise
Thailand’s food delivery game just got a major shake-up — and it’s Robinhood taking the wheel.
Yesterday, May 20, Thai-born delivery platform Robinhood announced a strategic redirection agreement with Foodpanda Thailand, as the international giant prepares to exit the country after 13 years of operations.
The move, effective immediately, allows Foodpanda customers, restaurant partners, and delivery riders to transition smoothly to Robinhood ahead of Foodpanda’s shutdown on Friday, May 23.
“This agreement marks a big moment in Thailand’s food delivery industry,” said Robinhood CEO Morakot Yipintsoi. “We’re committed to a smooth, human-centred transition based on fairness, service quality, and care.”
The timing couldn’t be better for Robinhood. Foodpanda, owned by Berlin-based Delivery Hero, has been struggling for years, with a modest 5% market share and losses of 13.8 billion baht between 2014 and 2023.
Failed attempts to sell parts of its Southeast Asian business sealed its fate in Thailand, despite a presence in all 77 provinces.
Robinhood, operated by Purple Ventures under the Yip In Tsoi Group, sees this as a golden opportunity to climb the ranks in Thailand’s fiercely competitive food delivery market, worth US$4.2 billion in 2024.
Grab currently dominates with a 46% market share, followed by LINEMAN Wongnai at 40%. Robinhood’s current 2% slice could significantly expand with foodpanda’s exit.
Originally launched by Siam Commercial Bank during the pandemic to support small businesses, Robinhood gained popularity with its no-commission model, a stark contrast to competitors charging as much as 40%. While it now operates commercially, the platform still champions fair pay, transparency, and fresh delivery without order batching.
Robinhood has also enhanced its app to be more English-friendly, a welcome feature for foreign users in tourist hotspots like Pattaya.
It now plans to expand services beyond Bangkok to key cities by year-end. The launch of Robinhood Mart, a marketplace for Thai handicrafts targeting international buyers, signals further ambitions to become a full-fledged “Thai Super App,” reported The Pattaya News.
As the industry shifts focus from deep discounts to quality and sustainability, experts say Robinhood could help prevent a delivery duopoly.
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