On August 24, 2021, SoBanHang made an announcement about its $1.5-million fundraising in a seed round. The funding round involved FEBE Ventures, Class 5, Kevin P.Ryan, Business Insider, MongoDB. SoBanHang is a bookkeeping application that helps small businesses sell online for the first time. This app is owned by Jamalex Finan.
Before SoBanHang, Bui Hai Nam founded Datamart Solutions. This is a data analytics and automation platform. He also works at Lazada. Bui Hai Long also has several years in a management position at Lazada. After that, he became CTO & CAO at the supermarket chain Landers Superstore Philippines. The idea of SoBanHang arose when Nam visited a grocery store. The store owner saw the Lazada shirt he was wearing and asked how to start selling online. He helped them register an account on Shopee and post photos and product descriptions. “After the installation was completed, they received the first order and asked how to deliver,” he said. “I said the carrier would come and pick it up. Then about the money, they don’t understand the process, they’re not comfortable with shipping.”
“Then they asked where the wallet was, how can I withdraw money to my bank account if I don’t have one? I realize many e-commerce platforms have not reached 90% of retailers in Vietnam. The system is too complicated for them.” So, two brothers, Nam and Long, developed a bookkeeping application for small businesses in Vietnam. Called SoBanHang, the app helps store owners “digitize” their operations. And so SoBanHang is always there to express the feelings of small businesses. “Recently many small businesses have been severely affected by the COVID-19 epidemic and competition. We are determined to build this technology solution. We hope to help them improve their competitiveness and development,” said Mr. Nam.
Sources of information include e27 and TechCrunch.