Vietnam payment startups merge to raise USD 30 mln

Tuesday 11 June 2019 13:13 CET | News

Vimo Technology, a mobile wallet provider, and Vietnam mPOS Technology, which develops POS technology, have announced their merger and rebranding as NextPay.

The new company is in talks with investors to raise about USD 30 million and anticipates closing the round soon, according to the company. The capital will help the company expand into Myanmar and Indonesia in 2020.

The combined company will have a presence in 11 cities across Vietnam, with more than 35,000 acceptance points.

Currently, Vietnam has a young, tech-savvy population, and 70% smartphones usage.

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Keywords: Vietnam, payments, startup, mPOS, NextPay
Countries: World