Vietnamese Purchase Now, Pay Later (BNPL) agency Fundiin introduced that it has secured US$5 million in a Sequence A funding spherical that was co-led by Trihill Capital and ThinkZone Ventures.

Further traders who had joined the financing spherical embrace 1982 Ventures, Genesia Ventures, JAFCO Asia, Zone Startups Ventures in addition to angel investor Do Thu Ngan, Deputy CEO of Sacombank.

In keeping with Fundiin, the brand new funds will probably be used to put money into the event of recent merchandise and bolster its crew because it plans to broaden to Indonesia within the upcoming Sequence B spherical.

Fundiin additionally revealed that it plans to broaden its footprint to Indonesia because it gears up for its upcoming Sequence B spherical.

This funding follows that of its US$1.8 million seed funding spherical in September 2021 after its product launch in mid-2020.

Nguyen Anh Cuong

Nguyen Anh Cuong, CEO and Co-Founding father of Fundiin mentioned,

“Whereas bank card penetration charges in developed nations vary from 50 p.c to greater than 70 p.c, in Vietnam this price is barely 5 p.c.

 

This exhibits that Vietnam is a excessive potential marketplace for BNPL to develop, and BNPL can also be an vital resolution to advertise monetary inclusion and forestall mortgage sharks, one of the crucial vital missions within the nationwide monetary inclusion technique.”