VNLife’s Series B success is considered one of the largest capital raising rounds for startups in Vietnam, according to Tech In Asia. The position of the nation’s second technology unicorn is also strengthened through this deal.
In the Series B capital call, the leading investors were General Atlantic and Dragoneer Investment Group with the participation of PayPal Ventures and EDBI have poured more than 250 million USD into VNLife. This amount of money is expected to promote growth in the company’s current business segments and support the development of new platforms and technologies for Vietnamese partners and consumers.
VNLife is known as Viet Life Group Joint Stock Company operating in the field of online travel, e-commerce and retail. For customers and users, the name Vietnam Payment Solution Joint Stock Company (VNPay) is somewhat more familiar and this is a company belonging to VNLife.
Group for owns the largest VNPay QR payment network for merchants in Vietnam with more than 150,000 payment acceptance points serving 22 million users. VNLife also provides services for more than 40 banks in Vietnam, 12 banks in Cambodia and 7 e-wallet partners.
In addition, VNLife’s ecosystem also has a number of outstanding projects such as car-sharing startup Dichung, travel technology solution provider Tripi and ticket booking platforms Dinogo and Mytour.vn.
VNLife is recognized by Google Temasek and Bain & Company as Vietnam’s second technology unicorn after VNG Corporation. In 2019, the unit received a capital investment commitment worth 300 million USD from SoftBank Vision Fund and GIC Pte fund (Singapore).
In addition to VNLife with the core segment of VNPay, electronic payment solutions in Vietnam, there are also names like MoMo GrabPay by Moca ViettelPay and ZaloPay.
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