Vietnamese influencer platform Hiip bags 7-digit funding led by Thai Vnet Capital

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.

Hiip had earlier raised a seed funding led by Cocoon Capital and 500 Startups in 2017.

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.

Vulpes Investment Management, an investor in Trax and PropertyGuru, the two most recent Southeast Asian unicorns, invests across various sectors and manages Singapore’s largest hedge fund.

Hiip is understood to be both the investment firms’ first portfolio company in Vietnam.

Also read:

Singapore-based Vulpes rebrands Myanmar fund, to focus on early stage tech deals

Cocoon Capital, 500 Startups lead funding in Vietnamese platform Hiip

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.