VietNamNet Bridge - Many technology startups have received funds worth tens of billions of dong after their first calls for capital.

In early 2016, Standard Chartered Private Equity and Goldman Sachs poured $28 million into M-Service, which owns the e-wallet MoMo. 

MoMo is the leading e-wallet service provider in Vietnam, with more than 100 services and 1 million users. With huge investment capital, M-Service can push up the development of MoMo by providing new services and strengthening the connection with banks.

In March 2015, Coc Coc, a startup founded by three Vietnamese software programmers, received an investment worth $14 million from German Hubert Burda and Hubert Burda’s senior managers as individual investors.

The rapid increase in the number of users and the high quality of the search engine and web browser were factors that attracted foreign investors.

Just several months later, Coc Coc succeeded in adding tools useful for Vietnamese documents. This left a good impression on investors. A Coc Coc representative said the investors even helped find good engineers to join the project.

Many technology startups have received funds worth tens of billions of dong after their first calls for capital.

Coc Coc, run by hundreds of workers, together with Google Chrome, is now among the web browsers mostly used in Vietnam.

Vntrip.vn, an app for booking hotel rooms online, received investment capital from the former senior executive of Alibaba – John Wu right at the first capital call last July.

The Vntrip.vn’s system now links with 6,000 hotels in Vietnam and 900,000 hotels overseas. Travelers can book rooms and make online payment on website or through the booking app on Android and iOS.

In late 2015, Lozi Vietnam JSC, which owns the app for foodies, surprised the public when receiving huge 7-figure capital from Golden Gate Ventures and DesignOne Japan after six months of proving the feasibility and the growth rate of the project. With its utilities, users can easily find reasonable places for food.

Japanese CyberAgent Ventures has officially announced investment in series B round in Vexere, a Vietnamese startup that runs the website for booking bus tickets online vexere.com. Singaporean Pix Vine has also joined the financing. 

Tran Nguyen Le Van, a boy who met big difficulties in childhood, fulfilled his dream of studying in the US and set up the website with 24 million hits.

Foody, a website that introduces and gives assessments about places to eat, established in August 2012 by Dang Hoang Minh last year received the investment capital from the US Tiger Global Investment. The value of the investment remains a secret, but analysts said it is worth up to $1 million.

Foody has designed a specific website for the Indonesian market. Its next targeted markets are Malaysia, Laos and Cambodia.


Mai Chi