Fundiin, a Vietnamese Buy Now, Pay Later (BNPL) platform, has raised an undisclosed sum during its venture funding round led by 1982 Ventures and Zone Startups Ventures.
This round of funding will allow Fundiin to expand their early lead in the market to serve a growing waitlist of merchants and their customers.
As part of its investment in Fundiin, Scott Krivokopich, Managing Partner at 1982 Ventures has joined its board of directors.
Fundiin was founded by Nguyen Anh Cuong (CEO) and Vo Hoang Nam (CTO) amidst the rise in BNPL offerings in Southeast Asia.
Nguyen Anh Cuong, CEO of Fundiin said,
“We offer an interest-free installment payment plan to consumers, instantly at point of sale with a single photo of ID card, making our model fundamentally better than credit cards.
This facility helps retail merchants increase conversion, average order value, and reach new customers.”
Scott Krivokopich, Managing Partner at 1982 Ventures said,
“Cuong and Nam have a bias for execution, taking an early lead in Vietnam’s buy-now, pay-later space by partnering with strong brands and focusing on customer experience.
We have seen foreign competitors from Indonesia and Singapore take a shot at Vietnam, only to miss the mark and pull back. Fundiin is proving that being close to the market is a huge advantage.”
