TIẾNG VIỆT Tech startup Sapo raises millions dollar from South Korea’s Smilegate Investment
Sapo claims to have over 67,000 customers using its products. Photo courtesy from the company
The funding round also received the participation of Vietnam’s homegrown venture capital Teko Ventures, an existing investor in the startup, said Sapo CEO Tran Trong Tuyen, who refused to disclose the investment amount, but said it was a seven-digit amount in US dollar.
With the additional investment, Sapo will expand its product ecosystems to the payment field and corporate finance, as well as entering the Southeast Asian market.
While Teko Ventures supports the firm with its local expertise, Smilegate will help the startup to boost growth through its regional network and experience.
In Vietnam, Sapo is Smilegate’s second investment after Series B investment in tech startup Lozi.
Last year, Korean Smilegate announced the establishment of an investment fund exclusively for Vietnamese startups. Smilegate focuses on investing in several fields including IT, energy, biotechnology.
Sapo Technology JSC was established in August 2008, formerly DKT Joint Stock Company, specializing in providing products of Multichannel Sales and Management Platform. The firm claims to have over 67,000 customers using its products.
In early 2014, the Vietnamese startup received an investment from Japan’s Cyberagent for potential development companies operating in the IT sector.
