Vietnam-based e-commerce enabler OnPoint secured a $50 million Series B funding in a round led by SeaTown Private Capital Master Fund.
SeaTown Holdings, an indirect wholly-owned subsidiary of Temasek Holdings, run the SeaTown Private Capital Master Fund.
This is considered the largest private fundraising round in Southeast Asia’s e-commerce enabler sector in the previous five years, according to a news statement.
The new fund will be used by the company to further grow its ecosystem for supporting e-commerce, boost talent and capabilities, and create breakthrough innovations using a data-driven methodology.
Additionally, the collaboration will give OnPoint access to SeaTown’s extensive networks and consumer sector expertise in the local and international digital economy.
Recently, SeaTown made investments in Vietnam’s Golden Gate Group and CrownX Corporation.
Tran Vu Quang, OnPoint’s founder and CEO, stated that by continuously inventing and delivering sustainable, seamless customer-centric solutions, their goal is to create impactful values for the ecosystem.
Given their long-term outlook and wealth of knowledge in the international digital industry, Quang emphasized that SeaTown is a useful partner for them. Rocket Equities provided advice for OnPoint’s Series B investment round.
The company has concentrated on creating proprietary technology to coordinate and connect a network of service partners, using data and automating procedures to simplify their operations, since its Series A financing in 2020.
Galaxy, its platform for managing digital marketing campaigns, makes use of the strengths of big data, AI, and machine learning. In order to assist SMEs merchants in managing their online stores “seamlessly,” OnPoint has now introduced OctoSells.
Since 2017, OnPoint has offered a one-stop shop that enables consumer brands to quicken the expansion of their online presence across a variety of channels, including e-commerce marketplaces, social media networks, and brand-owned websites.
All facets of the e-commerce value chain are covered by its capabilities, which range from managing digital marketing campaigns, customer services, warehousing, and order fulfillment to setting up and running businesses’ online stores.
More than 150 brands from a wide range of categories, including FMCG, pet food, electronics/home appliances, health & beauty, fashion, mother & infants, and pharmaceuticals are represented in OnPoint’s client portfolio. L’Oreal, Shiseido, Unicharm, P&G, Unilever International, Nestlé, LG, Panasonic, Mondelez, and other well-known brands are just a few of its noteworthy customers.