Ex-VNG, Rocket Internet exec’s bookkeeping startup lands $3m in fresh funds

Bizzi, a bookkeeping automation startup based in Vietnam, has raised US$3 million in its latest funding round.

More funding details

• Lead investor: Money Forward
• Returning investor: Qualgro
• Other investor: Do Ventures
• Stage: Pre-series A

More company updates

• Bizzi will use the investment to broaden its network of customers and to develop its platform’s features and functionality. The company is also looking to expand into newer markets in Southeast Asia. 
• Its clients include well-known brands such as Grab, GS25, Circle K, Tiki, Guardian, Medicare, and Pharmacity, among others. The company has also partnered with over 4,000 vendors on its platform.
• According to Bizzi, its current monthly value of processed invoices has exceeded US$300 million. Its robotic process automation and machine learning can cut invoice processing time by 80% and reduce processing costs by 50%.
• Bizzi was co-founded in 2019 by Nghia Vu, a former executive of consumer goods giant Unilever, and Nguyen Nguyen, who has held leadership roles at Rocket Internet and Vietnamese unicorn VNG.
• In May 2020, Bizzi raised an undisclosed amount of seed funding from 500 Startups and other angel investors. 

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.