Business

VinaCapital Ventures acquires stake in Dutycast

VinaCapital Group’s technology start-up venture fund VinaCapital Ventures (V2) has recently announced its investment in Dutycast, an assistant in cross-border online shopping.
VinaCapital Ventures acquires stake in Dutycast ảnh 1Founders of Dutycast (Photo: VNA)

HCM City (VNA) –VinaCapital Group’s technology start-up venture fund VinaCapital Ventures (V2)has recently announced its investment in Dutycast, an assistant in cross-borderonline shopping.

The globale-commerce market was estimated at nearly 994 billion USD (43.2 million USD) in2020, which is forecast to surge to 2 trillion USD by 2026 with an annualcompound growth of around 17.4 percent.

Data from the Ministryof Industry and Trade’s Vietnam E-Commerce and Digital Economic Agency showedthat the domestic online sales reached approximately 12 billion USD last year,or 5.5 percent of the total retail value nationwide. Vietnam is considered oneof the world’s fastest-growing e-commerce markets thanks to young andtech-savvy population and a rapidly expanding middle class.

Via Dutycast, userscould shop from multiple stores in different countries and check out once. Theycould pay in their local currency via trusted payment methods and withouthaving to worry about foreign exchange fluctuations.

Dutycast was foundedin 2020 by a group of experts in technology, globaltrade and consumer goods, including Nguyen Le Hoa, Dang Vu Tam, Doan Tran ThaiSon and Tran Dinh Dat.

Earlier inmid-September, VinaCapital Ventures poured capital into GlobalCare, aninsurtech company that provides solutions for the sales and administrativeprocesses of insurance agencies and business partners selling non-lifeinsurance policies./.

VNA
#VinaCapital Group #Vietnamplus #Vietnam News Agency #VinaCapital Ventures #Dutycast #cross-border online shopping #global e-commerce market Vietnam
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