VNLIFE to close $200 mln fundraising round

By Thanh Duong   May 18, 2021 | 06:01 pm GMT+7
VNLIFE to close $200 mln fundraising round
Customers pay with a smartphone app of VNPay. Photo courtesy of VNPay.
VNLIFE, the parent of Vietnam’s digital payment firm VNPAY, is set to complete next month a fundraising round that has raised more than $200 million.

A DealStreetAsia report said VNLIFE had approached Facebook for investment, but the two sides were not able to finalize a deal.

In 2019, VNLIFE received a commitment from Japan’s SoftBank Vision Fund and Singapore’s GIC Pte fund. The investment helped the company became a unicorn startup, one with an evaluation of $1 billion or more, in 2020.

Vietnam’s e-payment market is said to have great potential for growth with total payment value set to hit $15 billion this year. It is expected to grow by 15 percent annually until 2025, according to German statistics portal Statista.

Apart from the payment platform VNPAY, VNLIFE is also developing other services like vehicle sharing platform Dichung, tourism app Tripi and booking services Dinogo and Mytour.

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