The funding round for investors in Japan, the Republic of Korea, and Taiwan was participated by all existing investors, including SBI Group, FPT Group, eContext Asia, BEENEXT, and BEENOS. Nguyen Dac Viet Dung, executive chairman and co-founder of Sendo, said that the funding would help the company to expand Sendo’s customer-to-customer (C2C) platform, launch the business to customer (B2C) marketplace SenMall, and making SenPay the leading fintech platform in Vietnam. “Our ultimate goal is to continue supporting hundreds of thousands of Vietnamese sellers to prosper, and along the way help creating millions of jobs for the Vietnamese people. Having achieved the annual gross merchandise value (GMV) of $330 million, the company is on track to surpass US$1 billion of GMV in 2020,” Dung said. Daniel Kang, partner and managing director of SoftBank Ventures Korea, said that Vietnam is at an inflection point, bolstered by rapid GDP growth, young population, and willingness to adopt to technology. “Against this backdrop, e-commerce has strong growth potential and we believe Sendo’s marketplace model will benefit the most.” In a fast-growing e-commerce market, Sendo has set itself apart by focusing on not only Hanoi and Ho Chi Minh City but the untapped tier 2 cities,… Read full this story
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