Established in March 2016, Ecomobi connects businesses with advertising and content creation communities and individuals who are highly watched and have a strong influence on social networks. It lists Tokopedia, Lazada, Shopee and Bukalapak among its clients on its website.
According to a statement, this is the second funding round raised by Ecomobi. The fresh funding will be used to improve products, diversify sales channels and develop new markets, Ecomobi CEO Truong Cong Thanh said in a statement.
“We believe that Ecomobi will open a revolution in how to approach consumers, how to sell as well as Internet marketing,” said ESP Capital managing director Le Hoang Uyen Vy.
The Internet economy in Southeast Asia, she said, is estimated at $72 billion and is expected to reach $240 billion by 2025, equivalent to an annual growth rate of over 22 per cent. In tandem with the growth in e-commerce, fintech and food delivery, demand for social selling platforms such as Ecomobi is expected to grow strongly.
ESP Capital, established in 2017, has $20 million in its kitty to invest in Vietnamese early-stage startups. The firm is also targeting opportunities across Southeast Asia. It has funded 10 companies, including eight Vietnamese startups and two Singapore-based startups.
In October, the VC firm and local venture firm Founders Capital invested $500,000 in the Vietnamese food recipe portal Cooky.
Meanwhile, Nextrans, which has made seven investments in Vietnam, recently told DEALSTREETASIA in an interaction that it has facilitated its Vietnamese portfolio to raise an additional $23 million in follow-on funding.
Nextrans’ four disclosed investments in Vietnam include EcoTruck, VLeisure, JamJa and Leflair. To date, Nextrans has invested in 32 companies in South Korea, the US and Vietnam. For the Korean and Vietnamese markets, the firm invests out of a $350-million corpus.