Vietnam’s e-commerce platform raises 51 mln USD from foreign investors hinh anh, one of the largest e-commerce platforms of Vietnam (Photo: FPT Corporation)


Hanoi (VNA) – 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.

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

Executive Chairman and Co-Founder of Sen Do Nguyen Dac Viet Dung said the newly-raised funding would help the company carry out its business development plans, such as the launch of SenMall – a new electronic commerce platform.

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

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

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

Launched in 2012, the company currently owns, one of the largest e-commerce platforms of Vietnam. The website offers about 10 million products from 300,000 sellers, attracting millions of customers across the country.-VNA