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VinaCapital Ventures leads investment in Ecomobi

Released at: 22:36, 05/09/2019

VinaCapital Ventures leads investment in Ecomobi

Photo: Ecomobi

Naver Group, LINE Ventures, and GS Shop join funding round in social e-commerce startup.

by Hung Cao

VinaCapital Ventures announced on September 4 it is leading a group investment in Ecomobi, a regional social e-commerce platform in Southeast Asia. Terms of the investment were not disclosed.

Founded in 2016, Ecomobi partners with publishers and facilitates commerce via multiple social media platforms such as Facebook, YouTube, Zalo, and Instagram. By using AI / machine learning chatbot technology, it helps brands and e-commerce websites connect with thousands of key opinion leaders (KOLs) and social traffic and sell their products via reviews, promoted content, and product experience.

Its merchandise partners across Southeast Asia include e-commerce leaders such as Tokopedia, Shopee, Tiki, and Lazada, and brands such as Sony, Samsung, Vascara, and Juno, to name just a few. Ecomobi has a strong presence in Indonesia, Vietnam, Thailand, and Singapore.

It helped more than 100 brands and e-commerce sites sell over $100 million in merchandise value and services last year across 30,000 media channels. It is on track this year to double its performance against the previous year.

“Ecomobi is the perfect example of how today’s Vietnamese entrepreneurs are building regional businesses from day one,” Mr. Khanh Tran, Partner at VinaCapital Ventures, told the “Grow with GS” event in Ho Chi Minh City. “Their first country was Indonesia, due to the enormous size of its e-commerce marketplace.”

“They then applied their experience in that country to launch in Vietnam. In just two years, the company is generating significant and increasing revenue not just from those two countries but from markets like Thailand and Singapore. We are excited to play a role in helping Ecomobi realize its potential.”

“We are happy to partner with VinaCapital Ventures and other prominent investors who have significant experience and resources that will help us grow beyond our initial markets,” said Mr. Thanh Truong, CEO and Founder of Ecomobi. “This year and next we’re aiming to launch in Malaysia and the Philippines, and we look forward to expanding to other markets in the region and potentially beyond.”

VinaCapital Ventures was joined by co-investors GSShop, Naver Group, and LINE Ventures, all based in South Korea. ESP Capital is also making an additional investment as a follow up to its seed investment in December 2018.

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