Sapo Technology receives 7-digit investment
Sapo Technology JSC has completed its funding round and received an investment of up to seven-digit US dollars from South Korean Smilegate Investment and Vietnamese Teko Ventures.
Sapo Technology JSC has completed its funding round and received an investment of up to seven-digit US dollars from South Korean Smilegate Investment and Vietnamese Teko Ventures.
Of these, Smilegate Investment (SGI) is a private venture capital fund headquartered in South Korea. It focuses on investing in many fields, especially IT, energy and biotechnology.
Sapo is SGI’s second investment in Viet Nam after Lozi.
Teko Ventures is a Viet Nam-based investment fund that invests across all investment stages in Southeast Asia, focusing on technology.
Sapo will use the new capital to expand its payment sector and corporate finance support, with the goal of making it the largest and most used multi-channel sales and management platform in Viet Nam and Southeast Asia.
Sapo founder and CEO Tran Trong Tuyen said that Teko has many strengths in the Vietnamese market, which helped the company to be more favourable in the domestic market.
Meanwhile, SGI had a large network outside the country, and had successfully invested in companies in the same industry with Sapo, he said.
Working with SGI and Teko would help us accelerate our platform development and completion, the founder noted. — VNS
