Aditya Hadi Pratama · · 1 min readVietnamese social commerce firm bags $1.1m seed funding
On, a Vietnam-based social commerce startup, has raised US$1.1 million from a seed round led by Touchstone Partners, with participation from ThinkZone Ventures.
Photo credit: On
Launched in March 2021, On is a reseller platform that allows individuals to market products to their friends and families and get commissions from every transaction. The platform handles the entire reselling process for its users, covering orders handling, fulfillment, and delivery.
The company was founded by Giang Nguyen, former tech lead at FPT Corporation, Vietnam’s largest tech and IT services group. He built the firm with Dzung Luu and Minh Nguyen, who previously worked at ride-hailing platform Be and logistics startup Logivan, respectively.
On said that there are more than 10,000 sellers using its platform, with each of them earning up to US$300 per month. The company’s merchants sell more than 20,000 products through its platform, with deliveries handled by more than 24,000 shippers.
The startup plans to use the fresh funds to expand its presence and provide management, delivery, and capital support for its sellers.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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