OnPoint, a company providing solutions to support e-commerce development in Vietnam, has just announced that it has raised $50 million from SeaTown Private Capital Master Fund. This is an investment fund under SeaTown Holdings International, a member of Temasek Holdings. The capital invested in OnPoint is considered the largest in the past 5 years in the field of e-commerce development in Southeast Asia.
OnPoint was founded by Tran Vu Quang and Le Xuan Long in December 2017. Founder Tran Vu Quang is also the company's CEO. Born in Hai Phong to parents who were both doctors, Quang graduated from Reed College (USA) and began his career at McKinsey as a management consultant. In this role, Quang supported businesses from various sectors such as retail, banking, and energy in Vietnam, Indonesia, and Singapore.
Before starting OnPoint, Tran Vu Quang served as Commercial Director of Lazada Vietnam from 2014 to 2017. Before that, he also served as Executive Assistant to the Chairman of Vingroup for a short time.
“I returned to Vietnam 11 years ago. 9 years ago, I started working in the e-commerce field. I truly believe in 3 things: Vietnam's potential; the development of e-commerce and the digital economy; the mission of creating sustainable values and living to serve everyone,” OnPoint CEO shared on his personal page after the new round of funding.
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Tran Vu Quang, founder and CEO of OnPoint. Photo: OnPoint |
OnPoint now offers solutions that enable brands to drive online sales growth across multiple channels, including e-commerce platforms, social media, or brand-specific websites. Its capabilities cover all aspects of the e-commerce value chain, from setting up and operating an online store to managing digital marketing campaigns, customer service, warehousing, and fulfillment.
Prior to this round of funding, the company announced it had raised $8 million in Series A funding in 2020, led by South Korea's Kiwoom Investment Fund and Vietnam Growth Fund DAIWA-SSIAM II.
After the Series A round, OnPoint has invested heavily in technology to integrate and coordinate a network of service partners, using data and automated processes to optimize operations. Some of this startup's products include OctoSells - a multi-channel e-commerce management solution; OctoPOS - an O2O (Online-to-Offline) order management application; Galaxy - an AI/machine learning solution for marketing management...
The 5-year-old startup currently provides services to more than 150 brands in the beauty - healthcare, fashion, mother and baby, electronics - home appliances, pharmaceuticals, digital products, fast-moving consumer goods, pet food... Among them, there are many brands belonging to multinational companies such as L'Oreal, Shiseido, Unicharm, P&G, Unilever, Nestlé, LG, Panasonic, Mondelez...
CEO Tran Vu Quang said OnPoint will use the new capital to continue expanding and building an ecosystem of services supporting e-commerce development. At the same time, the company will also step up recruitment, develop talent and system capacity, and invest in pioneering data-centric technology.
"OnPoint's strategic vision is to become a value creation platform for participants in the digital economy of Southeast Asia from brands, sellers, service providers to end consumers. Ultimately, it is still creating value for employees as well as shareholders of the company," said Mr. Quang.
ndh.vn
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