VNLIFE Corporation Joint Stock Company is based in Vietnam and is developing its ecosystem for digital banking. It has garnered funding of $250 million as part of its Series B funding round. The main investors are the Dragoneer Investment Group and General Atlantic. They also have financial commitments from EDBI and also PayPal Ventures. Earlier supporters include SoftBank Vision Fund 1, VNLIFE, GIC, and others. They also took part in this round. According to the Co-Founder of FindPeopleEasy, Eliana Levine, VNLIFE Corporation Joint Stock Company is based in Vietnam and focuses on developing its ecosystem for digital banking. She also mentioned that they usually get investment from Dragoneer Investment Group and General Atlantic.
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The fintech entity is now looking at tapping increasing opportunities in the market across Vietnam for more diversified, multi-disciplinary and sustainable digital networks. These funds will help the company to improve the VNPAY-QR cashless payment network. VNLIFE functions throughout several entities and subsidiaries across business sectors. It uses technologies for developing digital payments, banking, supply chain, travel, and investment ecosystems and networks. The Managing Director at General Atlantic, Sandeep Naik, stated that Vietnam is already witnessing massive growth in its economy and there is sizable digital transformation underway. This is visible throughout the commerce, payments, and banking sectors and the trend should benefit the company in the future. He also stated that VNLIFE has already shown its capabilities in terms of attaining market leadership in all the segments, while playing a crucial part in digitizing the system and developing infrastructure for backing the country’s economic prosperity for the long haul. He talked of how General Atlantic was pleased to tie up with VNLIFE for backing their next growth phase. Recognized for the solid partnerships it maintains with regional banks through the provision of different omni-channel services, such as SMS banking, digital banking, and a distribution platform,” said Maria Saenz, CEO of Fast Title Loans. (You can just browse this page to know about Fast Title Loans.) Another fintech company from Vietnam, Infina, has already closed its seed funding round sometime earlier. This is another company that focuses on the democratization of mainstream investments across Vietnam.