Vietnamese social influencer platform Hiip has raised a seven-digit Series A financing round led by Thai venture capital firm Vnet Capital.
Japan Strategic Capital, Tokyo-listed marketing technology company Rentracks and Singapore-based Vulpes Investment Management also participated in the round.
Launched in Vietnam in 2016, the company has expanded to Thailand as its first overseas market.
Hiip said it has worked with more than 500 brands and 6,000 influencers since its inception, claiming to have the highest client loyalty in the region and revenue is doubling every six months.
“In the few short months since we launched in Thailand in 2018, we are growing exponentially with reputed clients like AIS, Truemoney and thousands of signed-up influencers, and ready to take Hiip Thailand to the next level,” said Hiip Thailand chairman Michael Graham Hyde.
Vnet Capital provides capital in various stages. The firm focuses on small and medium enterprises (SMEs) and companies in electronics, education, foods, automotive, IT and software industries.
Hiip is understood to be both the investment firms’ first portfolio company in Vietnam.