ScaleUP receives investment from Nextrans

Founded in Vietnam last year by a team of experienced professionals in retail and large-scale e-commerce, ScaleUP is a pioneer in the 'Scale As The Service' model, which is rapidly developing worldwide. The company offers services and technology solutions to help businesses and brands maximise the potential of omnichannel sales to achieve superior revenue growth.

ScaleUP does this by assisting businesses in managing sales across various online platforms, combined with their existing physical store systems. ScaleUp's target customers are businesses and retailers in fashion, fast-moving consumer goods, and cosmetics. The company focuses on the effectiveness and sustainability of omnichannel sales for its customers.

Nguyen Quoc Tuan, founder of ScaleUP, saw a significant gap between traditional retail businesses or those with physical store chains transitioning to omnichannel, and the substantial investments required in systems and manpower to efficiently develop omnichannel capabilities. This presented an opportunity for ScaleUP as it provides solutions similar to the 'Software as a Service' (SaaS) model, with flexible investment costs according to business needs.

"Developing omnichannel sales is undoubtedly necessary, but it must be done efficiently and sustainably," Tuan emphasised.

This latest investment into ScaleUP reflects Nextrans's ongoing expansion in Vietnam. Nextrans has supported more than 100 startups in South Korea, Vietnam, and the US since 2004. It started investing in Vietnam startups in 2015 and has so far invested in 32 tech startups here, including TopCV, BuyMed, Infina, Vuihoc, Tiki, and Gitiho.

Nextrans preferences is for early-stage startups, from seed to series A, in diverse areas such as fintech, edtech, medtech, foodtech, proptech, SaaS, and e-commerce, with investment sizes of up to $2 million.

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Fintech startup 1Long secures $500,000 in funding Vietnam-based fintech platform 1Long announced on February 26 that it has secured $500,000 in a pre-seed funding round with the capital coming from a consortium of investors, including Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.