Sen Do Technology JSC, a Vietnamese C2C marketplace, secured $51m in funding.
The round was led by current backer SBI Group, with participation from new investors SoftBank Ventures Korea, Daiwa PI Partners, and SKS Ventures and existing investors FPT Group, eContext Asia, Beenext, and Beenos.
The company intends to use the funds to expand the C2C platform Sendo, launch the B2C marketplace SenMall, and accelerate the reach of SenPay in Vietnam.
Led by Nguyen Dac Viet Dung, Executive Chairman and Co-Founder, Sendo operates a C2C marketplace, offering more than 10 million products on its platform. This e-commerce marketplace is combined with logistics providers and banks to provide customers with a full package of guaranteed transaction.
In 2016, Sendo’s fintech subsidiary FPT Wallet, which operates a mobile wallet service Senpay, received e-payment licensed from the State Bank of Vietnam.
Sendo focuses on Hanoi, Ho Chi Minh City and Tier 2 cities population, where 70 million Vietnamese people live serving more than 300,000 sellers and millions of buyers in all 63 provinces in Vietnam.