Digital Biz

ONUS has announced a new venture fund called ONUS Launcher, which has total capital of $20 million and aims to invest in blockchain startups in Vietnam.

The Covid-19 pandemic has pushed the rapid growth of e-commerce in Vietnam. A number of cities and provinces have set up e-commerce platforms to promote the trade and consumption of agricultural products. Some also launched tourism e-commerce platforms, marking a step towards digital transformation in the sector.

Vietnam is striving to record annual growth of 35-45 per cent in the cyber security business, posting revenue of over $500 million by 2025 and securing a domestic market share of over 50 per cent. It has risen to 25th out of 194 countries and territories, seventh in the Asia-Pacific region, and fourth in ASEAN in the 2021 global cyber safety index from the International Telecommunication Union (ITU).

Telio is the first business-to-business (B2B) e-commerce platform in Vietnam with the mission of connecting businesses with retailers. It has over 35,000 retail agents in 26 cities and provinces. It is expected that by the end of next year this number will increase to 150,000 agents in 45 of the country’s 63 cities and provinces. Not only taking advantage of the local retailer network, Telio also became the first and only B2B e-commerce to launch a store on Zalo.

MoMo e-wallet has announced the completion of a Series E funding round with investment of $200 million. The new funding will help it strengthen its position as market leader by increasing the provision of financial services to 31 million existing customers.

Net withdrawals in Exchange Traded Funds (ETFs) on Vietnam’s stock market were stronger at the end of the year, but 13 ETFs recorded net cash inflows of VND4.7 trillion ($205.58 million) in the first eleven months, mainly domestic funds.