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M Village successfully raised $1.7 million capital

The investment from the Singaporean fund

Nguyen Hai Ninh is the Co-Founder and former CEO of The Coffee House. This is a HCMC-based coffee chain that has over 140 stores across Vietnam. M Village is one of his latest projects after leaving The Coffee House a year ago. This is a startup in the field of accommodation services in co-living spaces. He said that startup had just received the funding of $1.7 million in capital. Leading the group of investors is Simple Tech Investment (STI). STI specialises in investing in digital transformation business models such as 24h, SieuViet Group, Anycar, 30Shine,…  “The fundraising process started late last year and it has worked out pretty well. Simple Tech Investment agreed on investing after a month of getting to know each other,” Ninh said.

 

M Village District 3

M Village in District 3, Ho Chi Minh City

 

M Village will use the money to develop the system in Ho Chi Minh City. The goal is that by the end of this year, the startup will lead this area in expanding the number of rooms for rent from the current 300 to about 1,000. This startup will continue to raise capital to expand the system to major cities and tourist cities with the goal of leading the serviced apartment market in the next two years. Vulpes Ventures, Genesia Ventures, and several angel investors also participated in the round.

About M Village

M Village was founded in October 2020 and has its first accommodation facility operating in May 2021. M Village currently operates five facilities and has 11 facilities being prepared to operate in Ho Chi Minh City with about 300 rooms. The rental capacity is always 90-95%. M Village’s business model is to cooperate with homeowners to design and renovate real estate into accommodation facilities. After that, this startup will provide short-term and long-term accommodation services with utilities for working, dining, and community connection.

Sources of information include Baodautu and Doanhnghieptiepthi.