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VNLIFE successfully raised more than $250 million

VNLIFE has just successfully raised more than $250 million in Series B capital. The round was led by General Atlantic and Dragoneer. This funding round also includes the participation of PayPal Ventures and EDBI. Existing investors GIC and SoftBank Vision Fund 1 also participated in the round. The investment accelerates the growth of VNLIFE’s existing businesses. The capital also supports the development of new technology platforms for partners and consumers.

VNLIFE Group Joint Stock Company

VNLIFE is a leading technology joint stock company pioneering the development of Vietnam’s digital ecosystem. The Group is a technology, trade, service and payment ecosystem with many member companies. VNLIFE creates a comprehensive digital ecosystem that meets people’s daily needs. The company’s advanced and modern technology ecosystem platform has AI, Big Data, blockchain, IOT… VNLIFE has developed a diversified trading and service ecosystem. The VNLIFE ecosystem is a “supporting platform” for startups, creating opportunities to connect and develop economic efficiency. The company will accompany the startup to reach the world with the support from investors.

VNPAY-QR e-wallet interface on laptops and smartphones

VNLIFE promotes cashless payment in Vietnam. The group builds the largest network of businesses accepting VNPAY-QR payments in the country. The Group also fully supports digital services on a comprehensive payment platform. In early 2021, VNLIFE launched a new version of VNPAY e-wallet, prioritizing the family wallet feature. VNLIFE provides more than 30 services in Vietnam, Singapore, Cambodia and Myanmar. Currently, VNLIFE members have over 4,000 employees. In which, the company has over 1,000 experienced engineers and experts. Their experience spans a wide range of technologies.

Investing circumstance

The general crisis caused by the COVID-19 pandemic has had a comprehensive and far-reaching impact on the world economy. Many countries have been facing many difficulties in raising capital. Vietnam has emerged as “VNLIFE” has just received investment from the world’s leading funds. This confirms the competitive breakthrough, “surpassing” the integration of Vietnamese enterprises. Not only countries with a strongly developed information technology background such as the US, Japan, Singapore… can attract big investors. Vietnamese enterprises also have a certain breakthrough in this, creating an international position.

Payment method via VNPAY e-wallet by scanning QR code

Tran Tri Manh, Chairman of the Board of Directors of VNLIFE, said the investment will support startups in technology and build networks. The amount of capital for startups not only to grow in the country but also to reach out to the world. With the right resources, businesses will have a good stepping stone when joining the ecological chain and bringing products to market. Mr. Niraan De Silva, CEO of VNLIFE expressed his pleasure at the participation of famous investors. Their global experience and mindset offers exciting growth prospects. With the rapid growth of users of digital platforms, capital accelerates technology development efforts. Working to support partners will keep pace with this change.

Sources of information include DealstreetAsiaTechInAsia.