Vietnamese startups have raised more than $ 100 million in capital

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According to Google’s 2020 E-Conomy SEA economic report, Vietnam Payment Solutions Joint Stock Company (VNPay) is one of the 12 unicorns of Southeast Asia. Thus, after VNG, Vietnam has a second startup valued at $ 1 billion or more.

VNPay is listed on the unicorn list thanks to a fundraising round from the SoftBank Vision Fund and the Singapore Government GIC in 2019. According to Crunchbase (business and startup information platform), the amount VNPay raised in this round about 300 million USD.

VNPay is considered the second unicorn of Vietnam. Photo: VinID

VNPay was established in March 2007. This business provides electronic payment services for more than 40 banks, 5 telecommunications companies and more than 20,000 businesses.


According to Crunchbase data, MoMo Wallet has raised nearly $ 234 million through 4 fundraising rounds. In particular, the latest round of fundraising (Series D) has just been announced by this startup in early 2021 with the participation of investors as existing shareholders including Warburg Pincus, Affirma Capital and Tybourne Capital Management. This round of fundraising also appeared new investment funds such as Goodwater Capital, Kora Management and Macquarie Capital.

The specific amount was not disclosed by MoMo, but according to Crunchbase, this figure is about $ 100 million.

MoMo has just completed the Series D fundraising round. Photo: MoMo

Last April, CB Insights (a US data aggregator, analytics and reporting company) also put MoMo on the list of Asia’s most successful fundraising tech startups – Pacific Ocean with a total investment of nearly 134 million USD. In addition to the funds participating in the Series D round, MoMo has successfully raised capital from Goldman Sachs and Standard Chartered Private Equity.


The Tiki e-commerce platform was founded in 2010 by Tran Ngoc Thai Son, who holds a master’s degree from the University of New South Wales, Australia. Initially, this was just an online foreign language book sales platform with an office right in Mr. Son’s bedroom.

Tiki usually does not disclose the call amount in each fundraising round. However, as noted by Crunchbase, the startup has raised $ 192.5 million over 7 rounds of fundraising.

Tiki is one of the Vietnamese startups receiving a “huge” investment capital. Photo: Tiki

In March 2012, Tiki was invested $ 500,000 by the CyberAgent Ventures fund of Japan, then continued to be invested by another Japanese corporation, Sumitomo, in August 2013. In May 2016, the company received an investment of $ 17 million (about VND 384 billion) from VNG in exchange for a 38% stake.

At the end of 2017, in early 2018, some sources said that Tiki had successfully raised $54.5 million from Chinese e-commerce giant, STIC from South Korea and VNG. Tiki, however, did not confirm this information.


This e-commerce developed by FPT Online Online Joint Stock Company (FPT Online) since September 2012. In 2014, FPT separated this project from FPT Online, established Sen Do Company and acquired VNG’s website. In the same year, Sendo exchanged 33% of the shares for an $18 million investment from SBI Holdings, Econtext Asia and Beenos.

In 2018, Sendo announced a successful mobilization of 51 million USD in the Series B fundraising round. According to the company’s representatives, the deal was attended by 8 investors, including SBI, SoftBank Ventures Korea, Daiwa PI Partners SKS Ventures, FPT Corporation, eContext Asia, BeeNext and Beenos.

In the two years of 2018 and 2019, Sendo has raised more than 110 million USD. Screenshots

In 2019, Sendo continues to complete the Series C fundraising round with a total value of 61 million USD. This round of fundraising has 2 new investors, EV Growth (Indonesia) and Kasikornbank (Thailand). Some former investors such as SBI, Beenos, SoftBank Ventures Asia, Daiwa PI Partners continue to participate in the investment.

So in 2018 and 2019 alone, Sendo has raised over $ 110 million.

Source: – Translated by