Hanoi-based e-commerce platform raises US$22.5 million led by VNG
Hanoi, Ho Chi Minh City, and the southern province of Binh Duong are key markets for the startup.
Hanoi, Ho Chi Minh City, and the southern province of Binh Duong are key markets for the startup.
Such a landmark investment underscores the global interest in Vietnam’s dynamic fin-tech industry
Southeast Asia-focused venture capital funds are putting more effort into early-stage investment in Vietnam, and such a trend is expected to continue growing in the next 10 years.
MoMo continues to recruit more top experts and triple the number of AI personnel to transform it into a true AI-first company.
With the deal, the group will “realize the commitment” to nurturing young Vietnamese entrepreneurs for societal betterment through smart transportation, smart city development and digital transformation.
The startup wishes to replace 250 million gasoline motorbikes with electric scooters in Southeast Asia.
For years, investors were willing to back losing businesses to gain market share. But now, there is more scrutiny of new investments.
The growth in investment size in Vietnamese startups over the past few years makes the target of having tech unicorns right in Vietnam feasible, Chu Ngoc Anh, minister of Science and Technology stressed.
Vietnam's plans on digital economy, the Fourth Industrial Revolution, smart cities and startups are clearly helping the country’s IT industry continue to record strong revenue growth