Buy now, pay later firm Fundiin raises $5 mln in series A round
Vietnamese startup Fundiin has raised $5 million in a series A round co-led by Trihill Capital and ThinkZone Ventures.
Fundiin app seen on a device, with its logo and words "Pay later". Photo courtesy of Fundiin.
Other investors joining the round included 1982 Ventures, Genesia Ventures, Jafco Asia, Zone Startups Ventures, and Do Thu Ngan, former CEO at HCMC-based lender Sacombank, also a former executive at JP Morgan Chase Vietnam.
The buy now, pay later (BNPL) company said it would use the fresh funds to develop new products and speed up its expansion plans as it seeks to enter Indonesia during its upcoming series B raise.
Founded in 2019, the Ho Chi Minh City-based startup aims to help retail merchants and e-commerce sites increase conversion rates and average order value, and obtain new customers through its installment payment options.
The firm says it currently offers three BNPL products - the first allows users to pay in three monthly installments, the second is for payments in 30 days, and the third is for periodic payments.
Fundiin adds it has cooperated with more than 300 partners which have over 4,000 physical stores, including established brands like Mobile World Group, retailer Dien May Xanh, Unilever, Galaxy Play, Reebok, Paula’s Choice, Pigeon, and Giant International.
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