Vietnam-focused fintech startup bags $1.5m for SEA expansion

Latvia-based fintech startup Jeff, which currently only has operations in Vietnam, has raised US$1.5 million in a seed round extension.

More funding details

• Lead investors: J12 Ventures
• Returning investors: EstBAN, Startup Wise Guys, and others
• New investors: iSeed Ventures and Toy Ventures
• Stage: Seed round extension

More company updates

• The startup aims to use the fresh capital to increase its team from 15 to over 40 members. With a bigger team, the company will focus on market expansion, growth in business-to-business sales, and form new partnerships.
• Jeff started its operations in 2020 with Vietnam as its first market. The startup says it has served more than 700,000 customers in the country.
• The company plans to enter the Indonesian market by the end of 2021 and expects to start its operations in the Philippines in the third quarter of the year.
• By integrating data sources and leveraging the customers’ digital footprint, Jeff produces a unified credit score to help both lenders and borrowers.

See also: The key players in Vietnam’s fintech battleground

For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.