Vietnam's OnPoint closes $50M Series B funding led by Temasek's fund
Summary
Most recently, SeaTown has made investments in the CrownX Corporation and Golden Gate Group in Vietnam.According to OnPoint Founder and Chief Executive Officer Tran Vu Quang, the company will use the new fund to continue expanding its e-commerce enabling ecosystem, strengthening talents and capabilities, and developing emerging technologies with a data-driven approach.Quang noted that OnPoints vision is to ultimately become a platform that creates impacts to all participants of the SEAs e- commerce economy from brand owners, merchants, service providers to consumers, generating values for its employees and shareholders.We pioneer in building the number one SEAs e-commerce enabling solutions to connect brands, platforms, logistics partners, and shoppers. Our goal is to create impactful values for the ecosystem by constantly innovating and developing sustainable, seamless customer-centric solutions. SeaTown is a valuable partner for us, given their long-term vision and a wealth of experience in the global digital economy, he added.Since 2017, OnPoint provides a one-stop solution that enables consumer brands to accelerate their online growth on multiple channels including e-commerce marketplaces, social media platforms, and brand-owned websites.Its capabilities encompass all aspects of the e-commerce value chain ranging from the set-up and operations of brands online store, to managing digital marketing campaigns, customer services, warehousing and order fulfillment.After a successful Series A round in 2020, the company has focused on developing proprietary technology to integrate and co-ordinate a network of service partners, utilizing data and automating processes to streamline their operations.The companys most advanced solution, Galaxy, is a digital marketing campaign management tool that leverages the power of Big Data, artificial intelligence (AI) and Machine Learning. It has also launched OctoSells, a Software-as-a-Service (SAAS) product to help small and medium-sized enterprises (SMEs) merchants manage online stores seamlessly.In one of the fastest-growing e-commerce markets globally, OnPoint has proven to be the best-in-class e-commerce enabler supporting a large portfolio of local and international brands. We strongly believe that, with its unparalleled experience and capabilities, OnPoint is well-positioned to capture the growth of the Vietnamese e-commerce industry and solidify its position as an integral part of the value chainThis investment exemplifies SeaTowns philosophy, which is to partner with great management teams who have built exceptional businesses to help them achieve a shared aspiration for the company, said Dickson Loo, Managing Director at SeaTown.SeaTown Holdings International is a Singapore-based investment manager focused on alternative, absolute return strategies.