return icon Vietnamnet.vn

E-commerce enabler OnPoint raises $50 million from Singapore fund

OnPoint has successfully raised $50 million in a series B fund-raising round from SeaTown Private Capital Master Fund managed by SeaTown Holdings International, an indirect wholly-owned subsidiary of Singapore’s Temasek Holdings.
E-commerce enabler OnPoint raises 50 million USD from Singapore fund hinh anh 1
Vietnamese e-commerce enabler OnPoint has closed 50 million USD in series B funding from SeaTown Private Capital Master Fund.(Photo: VNA)

This is the largest private investment in the Southeast Asian e-commerce enabler industry in the last five years.

It will enable OnPoint - an e-commerce enabler in Vietnam - to further invest in omni-channel marketing and sales solutions besides tapping into SeaTown’s vast network and experience in the digital economy and consumer sectors across Southeast Asia and globally.

Dickson Loo, managing director of SeaTown, said: “In one of the fastest-growing e-commerce markets globally, OnPoint has proven to be the best-in-class e-commerce enabler supporting a large portfolio of local and international brands.

“We strongly believe that, with its unparalleled experience and capabilities, OnPoint is well-positioned to capture the growth of the Vietnamese e-commerce industry and solidify its position as an integral part of the value chain.”

Tran Vu Quang, OnPoint founder and CEO, said: “We pioneered the number one Southeast Asian e-commerce enabling solution to connect brands, platforms, logistics partners, and shoppers.

“SeaTown is a valuable partner for us, given their long-term vision and a wealth of experience in the global digital economy.”

The company would use the money to expand its e-commerce enabling eco-system, strengthening talent and capabilities and developing emerging technologies with a data-driven approach.

Founded in 2017, OnPoint provides a one-stop solution that enables consumer brands to accelerate their online growth on multiple channels including e-commerce marketplaces, social media platforms and brand-owned websites.

After a successful series A round in 2020, it has focused on developing proprietary technologies to integrate and co-ordinate a network of service partners, utilising data and automating processes to streamline their operations.

Its most advanced solution, Galaxy, is a digital marketing campaign management tool that leverages the power of big data, AI and machine learning.

OnPoint has also launched OctoSells, a Software-as-a-Service product to help SME merchants manage online stores.

Last year, it was the only e-commerce solution provider in Vietnam to win the ‘Shopee Premium Certified Enabler’ and ‘Lazada Best Partner Vietnam’ awards.

It also received the Technode ORIGIN Innovation award in the e-commerce category and was listed among the Top 500 Largest Private Enterprises in Vietnam in 2021 (VNR500)./.
Source: VNA

MORE NEWS

Pharmaceutical firms show mixed performance

Six-month revenues of pharmaceutical firms paint a mixed picture of the industry in the first half.

Ship damages bridge over Saigon River

Binh Phuoc 1 Bridge connecting Thu Duc City and District 12 over the Saigon River was damaged after being hit by a ship traveling under the bridge.

Vietnam sees rise in Covid-19 infections and deaths

Vietnam has seen a recent rise in the number of Covid-19 infections and deaths due to the appearance of new Omicron sub-variants.

Phu Quoc halts scuba diving tours for coral protection

Underwater tourism activities that threaten coral reefs at Phu Quoc marine sanctuary have been suspended.

Vietnam, Poland capitalize on EVFTA preferences

The implementation of the Vietnam - EU Free Trade Agreement (EVFTA) has greatly contributed to raising two-way trade turnover between Vietnam and Poland to over US$1 billion since the beginning of the year.

Foreign trade hits more than US$30 bln in first half of August

The General Department of Vietnam Customs reported the total import-export value of Vietnam in the first half of August 2022 has hit more than US$30 billion.

Vietnam improves forecasting in face of natural disasters

Natural disasters are becoming more unpredictable and extreme due to climate change, causing more extensive damage to people and property.

Expert backs proposal to invest in refinery complex in Ba Ria-Vung Tau

A proposal by the Vietnam Oil and Gas Group (Petrovietnam) to invest in a petrochemical and refinery complex and national oil storage facility with total investment of nearly 19 billion USD in the southern province of Ba Ria-Vung Tau is a good idea.

Vietnam’s public debt decreases significantly

Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the latest information released by the Ministry of Finance.

Get a taste of nature in northern national parks

National parks with abundant greenery and diverse flora and fauna act as lungs for many regions and provide a paradise for nature lovers.

Over US$34 billion set to pour into Vietnam’s real estate market this year

During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions.

VIETNAM NEWS HEADLINES AUGUST 19

Government offers support to additional 243,000 pandemic-hit labourers

Tourism businesses struggle to get cut-rate loans

Struggling tourism businesses in HCM City are in dire need of credit to recover but are finding it very difficult to access the subsidised loans under the Government’s Decree 31 that took effect in May, according to the city's Department of Tourism.

VIETNAM BUSINESS NEWS AUGUST 19

Ministry of Finance seeks to drop fuel price stabilization fund

Vietnam to tighten management, increase supervision to prevent tax loss

Nowadays online shopping becomes more popular than in-store shopping and more people have taken take full advantage of social networking platforms to put an ad on social network platforms about their products.
back_to_top