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Vietnamese social commerce firm raises $1.1m seed funding

Photo credit: On

A seed round led by Touchstone Partners, with participation from ThinkZone Ventures, has secured US$1.1 million for a Vietnam-based social commerce firm.

On is a reseller network that allows users to market products to their friends and family while earning fees on each transaction. It was launched in March 2021. For its users, the platform manages the full resale process, including order processing, fulfilment, and delivery.

Giang Nguyen, a former tech head of FPT Corporation, Vietnam’s leading tech and IT services business, started the company. He co-founded the company alongside Dzung Luu and Minh Nguyen, who previously worked at Be, a ride-hailing network, and Logivan, a logistics startup.

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