Founders 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-border online shopping.
The global e-commerce market was estimated at nearly 994 billion USD (43.2 million USD) in 2020, which is forecast to surge to 2 trillion USD by 2026 with an annual compound growth of around 17.4 percent.
Data from the Ministry of Industry and Trade’s Vietnam E-Commerce and Digital Economic Agency showed that the domestic online sales reached approximately 12 billion USD last year, or 5.5 percent of the total retail value nationwide. Vietnam is considered one of the world’s fastest-growing e-commerce markets thanks to young and tech-savvy population and a rapidly expanding middle class.
Via Dutycast, users could shop from multiple stores in different countries and check out once. They could pay in their local currency via trusted payment methods and without having to worry about foreign exchange fluctuations.
Dutycast was founded in 2020 by a group of experts in technology, global trade and consumer goods, including Nguyen Le Hoa, Dang Vu Tam, Doan Tran Thai Son and Tran Dinh Dat.
Earlier in mid-September, VinaCapital Ventures poured capital into GlobalCare, an insurtech company that provides solutions for the sales and administrative processes of insurance agencies and business partners selling non-life insurance policies./.
