Vietnam Digest: Wavemaker Partners backs Foodmap; NextPay invests $475k in CNV Loyalty

Vietnam-based niche e-commerce startup Foodmap has raised $500,000 seed funding from Wavemaker Partners while e-payment solutions provider NextPay has announced an investment of VND11 billion ($475,000) in CNV Loyalty, a platform to create customer care applications.

Wavemaker Partners puts $500,000 in Foodmap

Vietnam-based niche e-commerce startup Foodmap has raised $500,000 in its seed funding round from Wavemaker Partners, founder and CEO Tung Pham told DealStreetAsia.

Foodmap connects farmers and small and medium agricultural producers with end consumers to provide transparency and traceability of farming products.

The capital is aimed at helping Foodmap to scale up through investing in enhancing technology, hiring talent and building warehouses.

Pham claimed that the business has been growing at 20 per cent per month in terms of the number of merchants, product assortments and orders. It currently provides agri-products of different categories such as fruits and vegetables, daily essentials, regional specialties, coffee-tea-chocolate and eco-friendly wellness products.

This is understood to be Wavemaker Partners’ first deal in Vietnam.

NextPay invests $475k in CNV Loyalty

Vietnamese e-payment solutions provider NextPay has announced an investment of VND11 billion ($475,000) in CNV Loyalty, a platform to create customer care applications, according to an announcement.

Established in 2017, CNV Loyalty helps businesses interact with old customers, collect reviews, expand many features to help increase customer experience.

The company said that it will use the investment from NextPay to develop its technology and products.

NextPay is the result of a merger between e-wallet service provider VIMO and point-of-sale startup mPOS, both of which were founded in 2014 by the incubator NextTech.

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.