HeyU Vietnam, a new multi-service concierge platform that caters to consumers’ everyday essentials, officially launched in Ho Chi Minh City after two years of incubating and growing aggressively in Hanoi.

HeyU is an instant delivery platform designated for Hanoi and Ho Chi Minh City suburban areas, operating under a shared economy model that connects store owners (merchants) with available motorbike riders (shippers).

It provides comprehensive order management solutions for shop owners and shippers, shortens delivery times, and automatically calculates and suggests the best delivery routes for shippers while optimizing the cost-saving multi-order delivery process for shop owners.

One of HeyU’s unique selling points is that merchants are free to decide the shipping fees, which will help optimize business profits as well as improve transparency between shippers and merchants, while ensuring there will be no surge price during peak hours. Every order is processed and assigned to a shipper within five minutes and delivered to the recipient in 55 minutes or less.

All operations are within a finger touch in a comprehensive all-in-one mobile app. Moreover, HeyU offers shippers a competitive commission rate, currently at 18 per cent - the lowest of all players in the field. In order to optimize shippers’ routes and save on fuel and labor costs, HeyU also allows shippers to collect up to three orders at the same time.

Mr. Pham The Anh, CEO of HeyU, said its motto and guideline is customer-centric, focusing on the quality of customer services. “Therefore, we offer a lot of outstanding sales policies that our competitors do not have, including our commitment to compensate up to VND3 million ($128) per order in case of loss of goods or dispute within 24 hours,” he added. “All feedback and inquiries from customers and shipper partners are resolved quickly, within one hour.”

Founded in 2017, HeyU now has 150,000 registered shippers (in which more than 25,000 are active partners) in Hanoi and 200,000 online and offline stores, with an average of 25,000 daily orders.

Expansion to Ho Chi Minh City after Hanoi has been part of HeyU’s strategic plan from the beginning, when the founders discussed market development and expansion as well as building a diversified multi-services platform. HeyU expects Ho Chi Minh City to become the key driver of growth, since this market size is three times bigger than Hanoi’s, helping to bring HeyU’s total number of daily orders to 100,000.

In 2018, HeyU successfully bagged $500,000 from its angel investor - Shark Nguyen Hoa Binh, Chairman of the NextTech Group. It is now in the process of calling for Series A funding from domestic and regional venture capitalists, and hopes to close this round at $3 million.