Business

Vietnam’s e-commerce platform raises 51 mln USD from foreign investors

Sen Do Technology JSC, the operator of Sendo online commerce platform, has gained 51 million USD funnelled by investors from Japan, the Republic of Korea and Taiwan (China), including SoftBank Ventures Korea, Daiwa PI Partners and SKS Ventures.
Vietnam’s e-commerce platform raises 51 mln USD from foreign investors ảnh 1sendo.vn, one of the largest e-commerce platforms of Vietnam (Photo: FPT Corporation)

Hanoi (VNA) – Sen Do TechnologyJSC, the operator of Sendo online commerce platform, has gained 51 million USDfunnelled by investors from Japan, the Republic of Korea and Taiwan (China),including SoftBank Ventures Korea, Daiwa PI Partners and SKS Ventures.

Previously, Sen Do secured investment fromFPT Corporation, SBI Holdings of Japan, eContect Asia, BEENEXT and BEENOS.

Executive Chairman and Co-Founder of Sen DoNguyen Dac Viet Dung said the newly-raised funding would help the company carryout its business development plans, such as the launch of SenMall – a newelectronic commerce platform.

It also plans to turn Senpay digital walletinto a leading financial technology (FinTech) platform in Vietnam.

The company has been on its track tosurpass 1 billion USD in merchandise sales through online platform by 2020, asthe annual figure stands at 330 million USD, Dung added.

Daniel Kang, Partner and Managing Directorof SoftBank Ventures Korea, said Vietnam’s economy is being driven by stronggrowth in gross domestic product, young population and willingness to adopt technology.He voiced his belief that as the country’s e-commerce holds tremendouspotential, Sen Do’s business model will strongly benefit from that.

Launched in 2012, the company currentlyowns sendo.vn, one of the largest e-commerce platforms of Vietnam. The websiteoffers about 10 million products from 300,000 sellers, attracting millions ofcustomers across the country.-VNA

VNA
#Sen Do Technology JSC #online commerce platform #business development plans #e-commerce #FinTech #vietnamplus #Vietnam News Agency
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