Business

E-commerce enabler OnPoint raises 50 million USD from Singapore fund

OnPoint, an e-commerce enabler in Vietnam has successfully raised 50 million USD in a series B fund-raising round from SeaTown Private Capital Master Fund managed by SeaTown Holdings International, an indirect wholly-owned subsidiary of Singapore’s Temasek Holdings.
E-commerce enabler OnPoint raises 50 million USD from Singapore fund ảnh 1Vietnamese e-commerce enabler OnPoint has closed 50 million USD in series B funding from SeaTown Private Capital Master Fund.(Photo: VNA)
HCMCity (VNS/VNA) - OnPoint, an e-commerce enabler in Vietnam hassuccessfully raised 50 million USD in a series B fund-raising round fromSeaTown Private Capital Master Fund managed by SeaTown Holdings International,an indirect wholly-owned subsidiary of Singapore’s Temasek Holdings.

This is the largest private investment in the Southeast Asian e-commerceenabler industry in the last five years.

It will enable OnPoint to further invest in omni-channel marketing and salessolutions besides tapping into SeaTown’s vast network and experience in thedigital economy and consumer sectors across Southeast Asia and globally.

Dickson Loo, managing director of SeaTown, said: “In one of the fastest-growinge-commerce markets globally, OnPoint has proven to be the best-in-classe-commerce enabler supporting a large portfolio of local and internationalbrands.

“We strongly believe that, with its unparalleled experience and capabilities,OnPoint is well-positioned to capture the growth of the Vietnamese e-commerceindustry and solidify its position as an integral part of the value chain.”

Tran Vu Quang, OnPoint founder and CEO, said: “We pioneered the number oneSoutheast Asian e-commerce enabling solution to connect brands, platforms,logistics partners, and shoppers.

“SeaTown is a valuable partner for us, given their long-term vision and awealth of experience in the global digital economy.”

The company would use the money to expand its e-commerce enabling eco-system,strengthening talent and capabilities and developing emerging technologies witha data-driven approach.

Founded in 2017, OnPoint provides a one-stop solution that enables consumerbrands to accelerate their online growth on multiple channels includinge-commerce marketplaces, social media platforms and brand-owned websites.

After a successful series A round in 2020, it has focused on developingproprietary technologies to integrate and co-ordinate a network of servicepartners, utilising data and automating processes to streamline theiroperations.

Its most advanced solution, Galaxy, is a digital marketing campaign managementtool that leverages the power of big data, AI and machine learning.

OnPoint has also launched OctoSells, a Software-as-a-Service product to helpSME merchants manage online stores.

Last year, it was the only e-commerce solution provider in Vietnam to win the‘Shopee Premium Certified Enabler’ and ‘Lazada Best Partner Vietnam’ awards.

It also received the Technode ORIGIN Innovation award in the e-commercecategory and was listed among the Top 500 Largest Private Enterprises inVietnam in 2021 (VNR500)./.
VNA
#OnPoint #B fund-raising round #SeaTown Private Capital Master Fund #Singapore’s Temasek Holdings #e-commerce #Vietnam #Vietnam news #Vietnam News Agency
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