The investment will help expand the platform’s retail merchant network and accelerate the adoption of digital payment in the country.

Jari provides a cloud solution that supports debt collectors to recover loans with its app Jarco.

Lightspeed Venture Partners focuses on Indonesia, Singapore, and Vietnam, looking for tech companies in edtech, fintech, and those helping SMEs go digital.

Access to credit is still one of the greatest obstacles to the growth of small and medium-sized enterprises (SMEs) in Vietnam, where only 39% of the SMEs have bank loans.

“Vietnam is an example of a market where you can still buy Digiworld — which grew its profit after tax by 55% in the first half of 2020 over the past year.”

Evo develops software to help influencers and livestreamers drive more purchases.

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.