ESP Capital, Nextrans invest in social selling platform Ecomobi

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Vietnamese venture capital firm ESP Capital and South Korean investor Nextrans on Thursday announced an unspecified investment in social selling platform Ecomobi.

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.

Also Read:

2018 in review: Vietnam finds increased venture capital favour

S Korea’s Nextrans says has enabled Vietnam portfolio to raise $23m follow-on funding

Vietnam: ESP Capital leads $500k investment in local food recipe portal Cooky

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.