Fundiin is the leading buy-now, pay-later (BNPL) service provider in Vietnam. This provider, who just completed funding from 1982 Ventures and Zone Startups Ventures, has closed another seed round. This round has the participation of Genesia Ventures, JAFCO Asia, Trihill Capital. The round also has former Affirm’s senior managers (Xffirmers). Pham Le Nhat Quang and other angel investors also participated in this round. This funding round quickly received a commitment to invest in excess of demand. This round lasted only three weeks. This capital will expand operations, strengthen the executive team, and accelerate Fundiin’s growth before the upcoming Series A round.
About the pay-later service Fundiin
Fundiin is the leading BNPL solution company in Vietnam. The company has helped retail partners increase sales by up to 30%. The company allows consumers to pay post-payments free of charge at the point of sale. Fundiin launched its BNPL product in mid-2020. The company has more than 100 retail partners, such as Lug, Vua Nem, Mat Viet, Giant International, etc. This new funding round helps Fundiin recruit several important positions. This serves the growing needs of consumers and retail partners.
Fundiin also partnered with multi-channel sales and management platform Sapo. This partnership is to integrate the BNPL solution to Sapo’s partners. Sapo has more than 100,000 business customers. This partnership will help more than 100,000 retailers on Sapo’s platform to convert payment methods. Eligible merchants can offer their customers the pay-later option to split their order into three interest-free monthly purchases. According to Nguyen Anh Cuong, Co-Founder & CEO of Fundiin, the support of global investors will strengthen Fundiin’s market leading position. The company will have more access to new capital sources and extensive experience in BNPL.
Sources of information include e27 and TechInAsia.