OpenCommerce Group raises $7 million in a Series A round backed by VNG and Do Ventures

February 24, 2022 | 18:16
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Headquartered in Hanoi with offices in San Francisco and Shenzhen, OpenCommerce Group (OCG) provides a one-stop service for both veteran and zero-experience online sellers with low risk and low cost. Over two years after launch, the platform has helped more than 86,700 sellers from 195 countries establish their e-commerce stores internationally, generating $670 million in gross merchandise value.
OpenCommerce Group raises $7 million in a Series A round backed by VNG and Do Ventures

There is an increasing opportunity for retailers of all sizes to take advantage of e-commerce’s hyper-growth thanks to the rapid online adoption.

OCG accelerates entrepreneurship sustainably by offering merchants from all over the world a barrier-free and automated cross-border e-commerce platform. Using OCG’s platform, users can start fruitful dropshipping and print-on-demand businesses, in which they can sell merchandise to customers without holding any physical inventory or operational burdens.

OCG's vision is to provide a comprehensive tech solution that empowers local entrepreneurs to bring Vietnamese products to global consumers. The company's technology ecosystem currently includes ShopBase, PrintBase, and PlusBase, which make dropshipping and print-on-demand easier and more scalable but still cost-effective.

All of these services equip users with a collection of powerful automated tools to support them with order management, marketing, shipping, payments, and everything required for a flourishing online business.

Built based on the background of the marketing platform Beeketing, OCG is led by a founding team with more than a decade of global e-commerce experience and a first-hand understanding of merchants’ slings and arrows when doing cross-border business.

"We will utilise the new capital for product improvements so that we can better support our existing users and reach out to new customer segments, thus unlocking opportunities for sellers of all ages and backgrounds. Besides Europe and the US, we will focus on gaining major market share in China as well as expanding to Southeast Asian countries in 2022,” said Quan Truong, co-founder and CEO of OCG.

VNG’s spokesperson noted that OCG is one of the few companies in Vietnam whose products can compete with major global competitors in the cross-border e-commerce space. The partnership with OCG further underscores VNG’s commitment to supporting potential Vietnamese companies to reach out to the world.

"We are proud to partner with OCG at such a pivotal time in its development to forge the future of cross-border e-commerce in Vietnam,” said Vy Le, general partner at Do Ventures. "We are very much excited to support the company as it continues to lower the threshold of entrepreneurship by enabling Vietnamese merchants to start their online businesses and enter overseas markets smoothly.”

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