Viettel Post launches the online “people’s market” model Vo So

The model’s workout in Ho Chi Minh City and Da Nang

Recently, the e-commerce platform Vo So (“seashell” in Vietnamese) was officially launched. Vo So launched 63 websites for household shopping in 63 provinces/cities nationwide. These sites help people access food and daily food. However, the access still ensures anti-epidemic requirements. Since July 2021, Vo So and Viettel Post have supplied more than 15,000 tons of essential goods in provinces and cities implementing social distancing. Two units can meet the demand of 500-600 tons/day for goods nationwide. In places where social distancing is tight, these two units have prepared enough resources. Both are ready to activate the B2B service as soon as it is approved by the government.

B2B pharmaceutical distribution platform BuyMed raised $8.8 million

thuocsi.vn’s interface on laptops and smartphones

BuyMed is the operator of thuocsi.vn. It is a B2B startup that distributes pharmaceuticals online. This startup just received an investment of $8.8 million in a Series A round. The Korean VC Smilegate Investment led this funding round. In addition, B Capital Group, Cocoon Capital, Genesia Ventures, Surge of Sequoia Capital India, Nextrans also participated. The new capital will help BuyMed develop its distribution network in Vietnam and Southeast Asia.

KiotViet raised successfully $45 million

KiotViet’s smartphone software interface

KiotViet sales management software just successfully raised $45 million in capital. This Series B funding round was led by international investment fund KKR. Jungle Ventures Venture Fund, CVM Company, Kasikorn Bank Thailand also participated. KiotViet provides business management software for more than 110,000 SMBs in Vietnam. Its services include point-of-sale, customer relationship management, employees management, inventory management.

Vietnamese B2B platform Sapo formed a partnership with Fundiin

Fundiin joined with Sapo in a “purchase later” program.

Fundiin is a startup providing BNPL (buy now, purchase later) services in Vietnam. This startup has successfully raised capital from investment funds Genesia, 1982 Ventures, Zone Startups Ventures. This startup has also officially cooperated with the B2B multi-channel sales management platform Sapo. This cooperation agreement is to integrate the postpaid payment solution for Sapo’s partners.

An Indonesian BNPL platform joins Vietnam’s markets

Kredivo’s platform smartphone interface

Kredivo is an Indonesian BNPL service provider platform. The platform just announced its expansion into Vietnam through a JV with Phoenix Holdings. Initially, Kredivo will only deploy bill payments and personal loans in Vietnam. The platform is expected to launch a BNPL service for e-commerce payments in the last quarter of 2021. In September 2021, Kredivo’s parent company FinAccel also announced plans to IPO in the US through a SPAC deal. The deal will value FinAccel at $2.5 billion. After entering Vietnam, Kredivo also plans to enter the Thai market. 

Sources of information include DealstreetAsia, e27, and TechInAsia.