Tech firm successfully calls for investment from Japan, RoK

Hanoi (VNA) – JAMJA - a technology startup firm in Vietnam - has just successfully called for nearly 20 billion VND (860,000 USD) from major investment funds of the Republic of Korea (RoK) and Japan.

They include KB Investment - a division of KB Financial Group under KB Bank, the RoK’s Nextrans and Bon Angles venture capital funds, and Framgia – a Japanese information technology group.

Managing director of JAMJA Le Hung Viet said the biggest obstacle that his company had overcome was persuading investors about the potential of its super discount app. 

The successful appeal will help the company focus investment on activities such as developing products and services while expanding markets and increasing the number of customers, Viet said. 

The capital was called at the Pre series A session in July 2018 after the Vietnamese firm joined the Asiabeat competition held in the RoK in late 2017 with the participation of over 100 startup companies.

JAMJA won the investment prize from Bon Angles – a popular investment fund in the RoK. Seung-ho Chae, a representative from Nextrans, referred to the effective hour promotion in China and the RoK, which has been invested in by reputable venture capital funds. 

The ability to translate ideas into reality with obvious results is a major factor in Nextrans’ decision to invest in JAMJA, he explained. 

Taihei Kobayashi, managing director at Framgia Inc, hailed the potential of JAMJA’s vision and marketing strategy. 

He said his company could provide technical assistance to help JAMJA conquer the market, and believed that JAMJA could change the perception of customers thanks to its wonderful promotion platform and ability to increase the frequency of services usage. 

JAMJA aims to use the foreign capital to develop its key service of hour booking promotion, which is expected to reach 100,000 each month.

Customers could enjoy a discount of up to 70 percent for booking at a certain time of the day besides average discounts of 30-50 percent. 

Viet said his company is ready for the next capital call at the end of 2018.-VNA