Kul Bhushan · · 1 min read🇻🇳 social commerce startup nets $2.6m in pre-series A money
Selly, a Vietnam-based social commerce startup, has raised US$2.6 million in a pre-series A round from CyberAgent Capital, Do Ventures, and other investors.
Photo credit: Selly
Social commerce is dominating Vietnam’s ecommerce scene, and Selly is looking to tap into this thriving segment. The startup has recorded a 300x growth rate since it began operations in April 2021.
Selly has more than 300,000 resellers, and the majority – around 80% – live in smaller cities. Most of these resellers are homemakers and people who have lost their jobs due to the pandemic. The company says that resellers on its platform could earn up to US$1,500 per month. It is also helping conventional manufacturers and distributors venture into the ecommerce space.
The fresh capital will be used to improve product features and expand Selly’s presence in Vietnam’s remote areas, according to company founder and CEO Tuan Thong.
See also: Meet the 15 top-funded startups and tech companies in Vietnam
Other investors in the present round include:
- Genesia Ventures
- JAFCO Asia
- Kvision
Editing by Eileen C. Ang
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