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| Bui Hai Nam, co-founder and CEO of Finan |
The proceeds will be used to roll out an AI-native business and finance operating system, Finan One, leveraging SoBanHang’s transaction data infrastructure. The investment will support Finan in expanding its embedded financial services, strengthening partnerships with banks, and entering other Southeast Asian markets.
Founded five years ago, Finan currently operates Sales Ledger as its flagship product – a mobile platform designed for small businesses and household enterprises that helps users manage sales, orders, inventory, invoices, cash flow, and many integrated financial services. As of present, Finan has crossed 800,000 merchants and $5 billion in processed transaction volume.
This funding round comes amid rapid digital transformation among more than 5 million small businesses and household enterprises in Vietnam, driven by the simultaneous implementation of mandatory e-invoicing, real-time tax reporting, QR payments, and digital banking services.
Sam Davidson, investment manager at OSK-SBI Venture Partners, said, “Small businesses in Vietnam are moving into the digital environment in a remarkably short period of time, spanning payments, e-invoicing, accounting, and tax. Rather than relying on traditional tools, Vietnam has the opportunity to move directly to a new generation of financial and operational infrastructure.”
Bui Hai Nam, co-founder and CEO of Finan, said, “We believe the future of small and medium-sized enterprise software is systems that increasingly understand how businesses operate, automate repetitive workflows, and help owners make faster and better decisions.”
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| MoF, KOICA, and GGGI to strengthen climate-tech funding The Ministry of Finance, the Korea International Cooperation Agency (KOICA), and the Global Green Growth Institute (GGGI) on April 17 launched a project on enhancing net-zero readiness through mobilising investments for climate-tech startups and small businesses. |
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