Vietnamese web big VNG Company has invested US$6 million into B2B gifting companies firm Obtained It in change for a 25 per cent stake.
In keeping with a press be aware, this offers Obtained It a post-investment valuation of US$25 million.
The contemporary funds will go in direction of enhancing the startup’s P2P gifting companies in Vietnam.
Established in 2015, Obtained It additionally presents loyalty programmes and reward vouchers. The corporate claims its shoppers include over 500 of the biggest multinational and nationwide corporations throughout Vietnam.
Obtained It and VNG will be a part of fingers to launch a premium prompt P2P gifting resolution with about 160 model companions, masking over 12,000 places nationwide. VNG will help Obtained It in increasing its gifting companies, B2B channels and service provider community, with a deal with customers Zalo and ZaloPay, that are owned by VNG.
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“Since mid-2020, VNG has been pushing its technique of discovering potential startups for long-term funding and companionship,” mentioned Le Hong Minh, Co-founder and CEO of VNG.
That is the second funding in a neighborhood startup by VNG. Final December, it invested VND 100 billion (US$4.4 million) in logistics agency EcoTruck for a 20 per cent stake. The web big can be an early investor in e-commerce platform Tiki, proudly owning 22 per cent of the corporate.
VNG is Vietnam’s first tech unicorn, with a valuation estimated to be about US$2.2 billion. Having began out as a gaming enterprise in 2004, the corporate has since expanded into digital content material, e-commerce, digital funds and lately cloud companies. Notable traders embody Singapore state-backed funding agency Temasek and Goldman Sachs.
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Picture Credit score: VNG
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