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Social commerce startup Evo secures seven-digit funding in seed round
Evo develops software to help influencers and livestreamers drive more purchases.
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Since its launch in 2012, e-wallet platform MoMo has amassed 20 million users, or about 21% of Vietnam's population.
Vietnam’s P2P market is estimated to be worth USD 7.8 billion in 2020, almost doubling from USD 4.4 billion in 2017, while currently there are over 40 P2P lenders operating in Vietnam.
Last year, the startup snagged USD 10 million from Vertex Ventures Southeast Asia and India in February, followed by another USD 11 million funds raised from Quona Capital in December.
With new programs in the pipeline, the impact investor is shaping how startups balance profit with purpose.
Currently, Thunes claims to have an extensive global network across more than 100 countries.
The top performing startup will receive up to SGD 150,000 (USD 109,908) after completion of the program.
Vietnam’s e-commerce sector is expected to grow by 43% from 2015 to 2025.
In a country where more than 48% of the population now owns a mobile phone, five Cambodia startups have emerged to leverage the fast growing digital economy.