Vietnam fintech VNLife raises US$250m from investors including GIC, EDBI
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[BENGALURU] VNLife Corp, the parent company of fintech firm VNPay, said on Friday it had raised US$250 million in a funding round led by General Atlantic and Dragoneer Investment Group and included SoftBank Vision Fund 1.
The Vietnam-based company has now raised its valuation to above US$1 billion, according to a source close to the deal.
PayPal Ventures, the venture capital arm of PayPal Holdings, Singapore's global fund EDBI and existing investor GIC also participated in the round.
VNLife was founded in 2007. Its subsidiary VNPay provides e-payment services to more than 40 banks, five telecommunications companies and 20,000 businesses, according to its LinkedIn profile.
The new capital infusion will be used to fund existing businesses and develop new platforms, the company said.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
