S11 Group
S11 Group is a Thai specialty finance company providing motorcycle hire-purchase loans and personal loans secured by motorcycle registration, targeting retail borrowers including the informal sector, listed on the SET since 2015.
- Company typePublic
- Founded2011
- HeadquartersBangkok, Thailand
- Headcount251–500
- GTM typeB2C
- OfferingServices
What S11 Group does
S11 Group Public Company Limited (SET: S11) is a Thai specialty finance company founded in 2011 and listed on the Stock Exchange of Thailand since February 2015. The company provides motorcycle hire-purchase financing and personal loans secured by motorcycle registration, targeting individual retail borrowers in Thailand — including formally employed customers and informal-sector borrowers such as traders, motorcycle taxi drivers, and general contractors who are typically underserved by mainstream banks. S11 operates a Bangkok headquarters and 8 provincial branch offices spanning central, eastern, northeastern, and northern Thailand, with a sales force that conducts home visits to verify informal income.
The company's core products are the Motorcycle Hire Purchase Loan for new motorcycles and the Personal Loan with Motorcycle Registration as Collateral, where borrowers pledge the registration book while retaining use of the vehicle until full repayment. These are bundled with after-sales services including motorcycle registration tax renewal, insurance policy management, and Motorbike Act (พ.ร.บ.) compliance services. Customer-facing technology comprises the S11X mobile application (iOS/Android) for installment checking, QR payment card generation, and document upload/download, plus an internal dealer portal at dealer.s11.group and a customer self-service portal at custinfo2.s11.group. Distribution combines the company's own branch network, motorcycle dealer partnerships, and a payment collection infrastructure spanning QR code integrations with seven Thai banks plus TrueMoney, as well as in-person payments at 7-Eleven, Tesco Lotus, and Counter Service outlets.
Revenue is generated primarily from interest income on hire-purchase and collateral loans, supplemented by fees from bundled after-sales services. For FY 2025, S11 reported revenue of 1,196.16 million THB (a 4.53% YoY decline), net profit of 374.05 million THB (up 214.32% YoY), net profit margin of 31.26%, and ROE of 10.67%, with net receivables of 6,144.12 million THB against 6,477.08 million THB in total assets. The wholly-owned subsidiary MOD S Co. Ltd. handles debt management services. The company is applying to the Bank of Thailand for personal loan licenses to broaden its regulated product set.
S11 Group firmographics
Firmographics- Name
- S11 Group
- Legal name
- S 11 Group Public Company Limited (บริษัท เอส 11 กรุ๊ป จำกัด (มหาชน))
- Website
- http://www.sgroup.co.th
- Company type
- Public
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- S11 Group is a Thai specialty finance company providing motorcycle hire-purchase loans and personal loans secured by motorcycle registration, targeting retail borrowers including the informal sector, listed on the SET since 2015.
- Ownership category
- akta.pro rank
S11 Group industry classification
Industry- Product category
- Consumer Lending / Motorcycle Hire-Purchase Financing
- akta.pro primary industry
- Motorcycle & Powersports Finance (FSAKADAG)
- akta.pro secondary industries
- Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans) (FSAKADAL), Billing, Payments & Subscription Support (BPAAABAC)
Keywords
Where S11 Group is headquartered
LocationHeadquarters
- HQ city
- Bangkok
- HQ country
- Thailand
- HQ region
- Asia
Offices9 records
Markets served
S11 Group business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Hire-Purchase Loan Interest Income: The primary revenue stream comes from interest income on motorcycle hire-purchase loans extended to retail customers. Customers make regular installment payments over the loan tenor, generating recurring interest revenue. The company also earns fee income from bundled after-sales services including motorcycle registration tax renewal, insurance policy services, and Motorbike Act (พ.ร.บ.) compliance services, which are offered as convenience services to customers and represent supplementary revenue.
- Motorcycle Registration Collateral Loans: Revenue from personal loans where the borrower uses their motorcycle registration as collateral. Interest and fees are charged on the loan principal, with the motorcycle registration book held as security during the loan term. Upon full repayment, the registration book is returned to the borrower.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Hire-purchase loans for new motorcycles with interest and fees determined by loan amount and customer creditworthiness |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
S11 Group product offering
Product offeringCore offering
S11 Group provides motorcycle hire-purchase financing and personal loans collateralized by motorcycle registration to Thai retail consumers, including both salaried employees and informal-income borrowers such as freelancers, traders, and motorcycle taxi drivers. The company also generates fee income from bundled after-sales services including motorcycle registration tax renewal, insurance policy management, and Motorbike Act (พ.ร.บ.) compliance services. Customers are served through a branch network, dealer partnerships, direct sales visits, and the S11 X self-service mobile application.
Product overview
S11 Group operates as a motorcycle hire-purchase financing company with a portfolio of two core financial products and one digital service platform. The primary offering is the Motorcycle Hire Purchase Loan, which provides financing for new motorcycles to both employed and self-employed customers with supporting after-sales services. The second product is the Personal Loan with Motorcycle Registration as Collateral, which allows motorcycle owners to borrow money using their motorcycle registration as security while continuing to use the vehicle. Both products are complemented by the S11 X mobile application, which provides customers with self-service capabilities including installment payment checking, QR code generation for payments, and document management.
Differentiator
Problem solved
Functional benefit
Brands
- S11 X: Mobile application for customers to check installment payments, generate payment cards, download/upload documents, and access payment methods.
Products and services
- Motorcycle Hire Purchase Loan (สินเชื่อเช่าซื้อรถจักรยานยนต์) Hire-purchase financing service for new motorcycles offered to general Thai customers including regular employees and freelancers, with bundled after-sales services including registration tax renewal, insurance policy, and motorcycle act (พ.ร.บ.) services.
- Personal Loan with Motorcycle Registration as Collateral (สินเชื่อที่มีทะเบียนรถเป็นประกัน) Personal loan where borrowers use their motorcycle registration as collateral while retaining possession and use of the motorcycle. The registration book is held as security and ownership is temporarily transferred until the loan is fully repaid.
- S11 X Mobile Application Customer self-service mobile application enabling installment payment checking, QR code generation for payments, document download and upload, and various payment method access for motorcycle hire-purchase and personal loan customers.
Quantifiable outcome
- Net profit margin improved from 3.31% (FY 2023) to 31.26% (FY 2025), demonstrating significant operational efficiency gains
- +3 more outcomes
Companies that use S11 Group
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
S11 Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature3 records
S11 Group partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and minor.
- Stock Exchange of Thailand (SET)flagship
- Thailand Securities Depository Company Limited (TSD)core
- Land and Houses Bank Public Company Limitedcore
- Kasikornbank Public Company Limitedcore
- EY Office Limitedcore
- Wayu & Partners Company Limitedminor
- Multiple banks for payment collection (KBank, SCB, Krung Thai, Krungsri, TMBThanachart, Land & Houses, Government Savings Bank)core
Scale indicators10 records
Recent moves9 records
Expansion highlights5 records
S11 Group competitors and assessment
Company assessmentDirect peers
- Srisawad Corporation PCL: Srisawad (SET: SWD) is one of Thailand's largest hire-purchase financiers with a strong motorcycle and used-car loan book. It is the most directly comparable Thai listed peer to S11 Group in motorcycle hire-purchase.
- NgernTid Lor PCL (TIDLOR): NgernTid Lor (SET: TIDLOR) operates a large Thai personal loan and motorcycle title-loan franchise, often via its "Baantidlor" agent network. Comparable business model and customer base to S11's motorcycle-collateral personal loans.
- Muangthai Capital Holding PCL (MTC): Muangthai Capital (SET: MTC) is a leading Thai personal loan and nano-finance provider serving both formal and informal borrowers nationwide. Comparable customer segments and distribution model to S11 Group.
- AEON Thana Sinsap (Thailand) PCL: AEON Thailand (SET: AEONTS) is a major Thai consumer finance company offering personal loans, hire-purchase, and credit cards. Overlaps with S11 in personal loan and motorcycle-adjacent retail financing.
- Krungthai Card PCL (KTC): KTC (SET: KTC) is a leading Thai consumer finance company focused on credit cards, personal loans, and revolving credit. Comparable consumer credit business model and Thai market focus to S11 Group.
Broad incumbents
- Krungsri Auto (Bank of Ayudhya): Krungsri Auto is one of Thailand's largest auto and motorcycle lenders, part of Bank of Ayudhya (Krungsri). It competes with S11 in motorcycle hire-purchase but benefits from a much larger balance sheet and lower funding costs.
- Thanachart Capital PCL (TCAP): Thanachart Capital (SET: TCAP) is a Thai financial holding company with hire-purchase and auto lending subsidiaries including Ratchthani Leasing. Comparable in motorcycle/auto hire-purchase but at significantly larger scale than S11.
- Kasikornbank PCL (KBank): KBank is one of Thailand's largest banks, with a sizable auto and motorcycle lending portfolio. Larger and more diversified than S11, but competes in motorcycle hire-purchase especially through dealer finance partnerships.
- TMBThanachart Bank PCL (TTB): TTB (SET: TTB) is a major Thai bank resulting from the TMBThanachart merger, with a hire-purchase lending book. Competes with S11 in motorcycle hire-purchase while being far larger and more diversified.
Others
- MOD S Co., Ltd. MOD S is S11 Group's wholly-owned debt management subsidiary established in 2017. Included as an ecosystem/related party rather than a peer, but illustrates S11's vertical integration into debt servicing operations.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
S11 Group social profiles
Digital presenceS11 Group compliance and trust
Trust signalCompliance1 record
S11 Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
S11 Group leadership team
Management profileNumber of profiles
Profiles9 records
S11 Group subsidiaries and ownership
Company hierarchySubsidiaries1 record
S11 Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
S11 Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about S11 Group
What does S11 Group do?
S11 Group provides motorcycle hire-purchase financing and personal loans collateralized by motorcycle registration to Thai retail consumers, including both salaried employees and informal-income borrowers such as freelancers, traders, and motorcycle taxi drivers. The company also generates fee income from bundled after-sales services including motorcycle registration tax renewal, insurance policy management, and Motorbike Act (พ.ร.บ.) compliance services. Customers are served through a branch network, dealer partnerships, direct sales visits, and the S11 X self-service mobile application.
Is S11 Group a public or private company?
S11 Group is a public company. It is classified as public and is currently operating.
When was S11 Group founded?
S11 Group was founded in 2011. It employs 251 to 500 people.
Where is S11 Group based?
S11 Group is headquartered in Bangkok, Thailand, in the Asia region.
How does S11 Group make money?
Two revenue lines are on record. Hire-Purchase Loan Interest Income is the primary driver. The others are motorcycle Registration Collateral Loans.
Who are S11 Group's main competitors?
Direct peers on record are Srisawad Corporation PCL, NgernTid Lor PCL (TIDLOR), Muangthai Capital Holding PCL (MTC), AEON Thana Sinsap (Thailand) PCL and Krungthai Card PCL (KTC). Broad incumbents are Krungsri Auto (Bank of Ayudhya), Thanachart Capital PCL (TCAP), Kasikornbank PCL (KBank) and TMBThanachart Bank PCL (TTB). MOD S Co., Ltd. is listed as an others.
Does S11 Group have an API?
No public API is recorded for S11 Group.
What industry is S11 Group in?
S11 Group's product category is Consumer Lending / Motorcycle Hire-Purchase Financing. Its primary akta.pro industry code is FSAKADAG, Motorcycle & Powersports Finance, with a secondary code of FSAKADAL, Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans).