Kul Bhushan · · 1 min readVietnam ecommerce firm raises $7m in series A money
Vietnam-based OpenCommerce Group (OCG), a cross-border ecommerce startup, has raised US$7 million in a series A round led by VNG, the gaming and entertainment unicorn. VC firm Do Ventures also participated in the round.
OCG founders Quan Truong (left) and Phuong Anh Ha / Photo credit: OCG
OCG aims to make it easier for local entrepreneurs and SMEs to sell their products to global consumers. Its suite of solutions also includes tools for order management, marketing, shipping, payments, among other things.
To date, the company has facilitated transactions worth US$2 billion. Headquartered in Hanoi, the firm also has offices in San Francisco and Shenzen.
OCG was founded by Quan Truong and Phuong Anh Ha in 2014.
The company plans to use the fresh capital to improve its products. “Besides Europe and the US, we will focus on gaining major market share in China as well as expanding to Southeast Asian countries in 2022,” Truong said in a statement.
See also: These are the most active investors in Vietnam’s startups
Editing by Collin Furtado and Arpit Nayak
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