Touchstone Partners leads $720,000 seed investment round in Happynest

May 01, 2024 | 10:53
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Touchstone Partners is leading a $720,000 seed round in Happynest, Vietnam’s first home and living community and social-commerce platform for housing.
Touchstone Partners leads $720,000 seed investment round in Happynest
Happynest’s co-founders Tiep Nguyen and Minh Cao

Happynest is a one-stop platform that allows its users to browse for home inspiration, connect with fellow homeowners to share knowledge and experience, find and hire the right architects, interior designers and constructors professionals, and purchase the right type of interior furniture, home appliances, and decorations. The Happynest platform aims to make the process of taking care of one’s own home more convenient.

Happynest started in 2020 as a pioneering platform for the home and living industry. The platform has the largest home and living community with 500,000-1,000,000 active monthly users, covering over 10,000 articles and 300,000 pictures of user-generated content around home ideas. As of early 2024, the Happynest platform had over 10,000 products from trusted sellers, providing the best deals and quality to its users.

Happynest has also grown its ecosystem on social media channels, including Facebook, Youtube, Instagram, Pinterest, and Tiktok. Happynest has a Facebook group community of over 480,000 members (including homeowners, home design enthusiasts and home improvement professionals across Vietnam). Happynest’s community groups serve as a platform to connect future and current homeowners to industry professionals, creating an environment for discussion about building, decorating, and maintaining homes.

“The Happynest model is built around its platform and loyal community. In our vision, the traffic, engagement, and audience insights about online behavior will give us the ability to develop commercial solutions directly for consumers. Because of the nature of the Happynest community, products can be seamlessly integrated into the platform without having to resort to aggressive sales tactics,” shared Minh Cao, CEO and co-founder of Happynest.

This investment from Touchstone Partners will allow Happynest to expand its user base, grow its community, and further develop innovative features to foster strong connections within the housing and interior designer community.

Nam Le, principal of Touchstone Partners, shared, “There has been significant growth in the online furniture shopping market in Vietnam, fueled by the rapid expansion of internet penetration, increasing comfort with digital transactions, and the rise of a middle class with greater disposable income. Vietnamese consumers, particularly in urban areas, are increasingly turning to online platforms to furnish their homes. We believe that this is the right time and environment to leverage Happynest’s unique product offerings. We are thrilled to partner with the founders and their innovative team to help Happynest advance towards its next chapter of growth.”

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