Soonicorn Club 2020: Top Tech Startups In Vietnam

In recent years, Vietnam has had a great development, rising to the 44th-ranked economy in the world, with a nominal GDP of 261 billion USD. In which, more than 50% of the GDP of Vietnam comes from the service sector and the US is Vietnam's largest trading partner.

Since then, the startup ecosystem in Vietnam has become more vibrant. Thua triumphal resurgent when he brought himself many advantages such as location, accessibility from sea routes, modern seaports spread over, along with low corporate tax advantages, young labor force. abundant and cheap labor. And the most prominent in the two major economic regions in Vietnam is Ho Chi Minh City and Hanoi.

Out of about 1600 tech startups, more than 10 public companies have the best development path. They are at the heart of not only Vietnam's startup ecosystem but also entire Southeast Asia.

FinFan, a Vietnamese fintech company, always pays attention to the latest developments in the world of startups and their related ecosystem including venture capital funds, private funds. , peer-to-peer lending companies with hundreds of banks to support start-ups or tech startups. 

Top 11 Tech, Fintech Soonicorn Startups In Vietnam

And below are these soonicorns in Vietnam, the genius of the digital technology industry. This list was announced by 'Vietnam Technology's Soonicorn Club 2020':

VNG, Vinagame

Vinagame, online game developer and cloud solution provider

Capital disclosed: $ 29 million

VNG provides a technology platform for online game development, production and publishing, financial payments and a secure cloud solution. The company provides a spectrum of services such as digital solutions, community links, utility software, and eCommerce. The company developed and released many games which are very widely used in Vietnam, such as Gunny, Kiem The, Crossfire Legends, etc. More than that, Vinangame is also a strategic partner of many leading soonicorn companies in the world such as Google, Master. Cards, VISA, HSBC and more.

Company Overview

Established: 2004

Founders: Minh Le & Bryan Pelz

City: Ho Chi Minh City (Vietnam)

Investors: IDG Ventures Vietnam, Temasek, CyberAgent Capital and some other investors


Momo (M_services), electronic wallet (Replace consumption accounting)

Funding disclosed: 134 million USD

Momo provides a smart e-wallet for users. Providing fast payment and fish spending services from bill payment, top-up, fuel payment, money transfer, direct in-store payment, purchase of movie, dining, and entertainment services Tri,. Currently, MoMo has more than 1000 large and small partners and 20 million users, so it is not difficult to find a Vietnamese using this application. Moreover, MoMo accepts links with many banks through credit/debit cards and is completely usable on iOS & Android devices.

Company Overview

Established: 2007

Founder: Diep Nguyen

City: Ho Chi Minh City (Vietnam)

Investors: Warburg Pincus, Affirma Capital, Standard Chartered and 2 other major investors


Sendo, E-commerce floor, an online retailer offering all kinds of products

Funding source disclosed: 130 million USD

Sendo is a leading e-commerce site in Vietnam and also an online retailer providing a wide range of products. From essential products for all ages such as fashion, cosmetics, technology products, sporting goods to food, entertainment, and healthcare services such as coupons, membership cards. Currently, Sendo has developed a system widely in 64 provinces and cities. Besides, customers can implement a payment via credit card, ATM card or even bank transfer.

Company’s general details

Established: 2012

Founders: Linh Tran Hai, Nguyen Phuong Hoang, Dung Nguyen Dac Viet

City: Ho Chi Minh City (Vietnam)

Investors: Kasikornbank, Beenos, SoftBank Ventures Korea and 9 other investors


Tiki, an online retailer offering a wide range of products

Capital disclosed: 67 million USD

Starting from an e-commerce platform that only sells books, Tiki has gradually turned into a variety of products and services ranging from clothing, health care products, mother and baby, equipment and sportswear to electronic devices, electrical appliances. According to the latest statement, Tiki is offering merchandise of over 300,000 different types.

Company Overview

Established: 2010

Founder: Tran Ngoc Thai Son

City: Ho Chi Minh City (Vietnam)

Investors: Northstar Group, InnoVen Capital, and 8 others


Topica, educational developer & Bachelor’s degree through an online technology platform

Capital disclosed: 50 million USD

Topica, an educational company, operates based on a technology platform providing online courses for all ages and permitted to provide an online bachelor's degree in Vietnam. Topica provides a spectrum of programs for learners from most countries in the world such as 'Topics Uni', an online bachelor's degree program; 'Topics Native', an online English voice tutoring program; 'Topics Founder Institute', an early-stage startup accelerator and others.

Company Overview

Established: 2008

Founder: Pham Minh Tuan

City: Hanoi (Vietnam)

Investors: Northstar Group, Openspace Ventures, Patamar Capital and 7 others

Coc Coc

Coc Coc, a keyword-based search engine based on artificial intelligence

Capital disclosed: 34 million USD

Coc Coc is a keyword-based search engine based on AI technology (artificial intelligence). It is customized and used by the Vietnamese as a mobile web browser. The users can search for all the necessary information through Coc Coc, like a wide range of knowledge. In addition, it offers features like video download, video pinning, night mode, incognito mode, smart search, advertising services, analytics apps and more. The app is in hand for both Android and iOS devices, or on desktop computers.

Company Overview

Established: 2008

Founder: Victor Lavrenko

City: Hanoi (Vietnam)

Investors: Burda Major Investments, Future Problems


Leflair, a platform that provides international fashion brands in Vietnam

Capital disclosed: 13 million USD

Leflair is a platform that provides members with opportunities to reach desirable brands in the world for fashion, beauty, home appliances and children not already in Vietnam. Each morning, the platform claims to add new products to offer for the new customers. Of course, it delivers through shipping hubs in many countries around the world. The company has transformed its business model to retail and plans to raise capital from a venture capital fund - Series A to renovate its warehouse.

Company Overview

Established: 2015

City: Ho Chi Minh City (Vietnam)

Investors: GS Group, Belt Road Capital Management, Capital Management Group and 5 other investors

Founders: Pierre-Antoine Brun & Loïc Gautier


POPS, Multi-channel network for Southeast Asian content

Capital disclosed: 32 million USD

POPS is a multi-content entertainment channel from Vietnam, Southeast Asia and is shared to many different countries. Produce your own content and distribute it, integrating it to various platforms including SmartTV, App Store, Google Play and Tablet. Pops promises to become a unicorn in the near future of Vietnam.

Company Overview

Established: 2007

Founder: Esther Nguyen

Location: Ho Chi Minh City (Vietnam)

Investor: EastBridge Partners, Turner, IT-Farm Corporation


Telio, online retailer for groceries

Capital disclosed: 27 million USD

Telio evolved in its own way, as a miniature market on a mobile phone, as an online retailer, an online grocery store. It offers various items including seasoning, instant food, drink, dry food, canned food, dairy products, etc. Request delivery within one business day or according to the wishes of the customer. Meeting the needs of many customers, towards family meals, Telio is the most exemplary technology company.

Company Overview

Established: 2018

Founder: Sy Phong Bui

Location: Hanoi (Vietnam)

Investors: Sequoia Capital, GGV Capital, RTP Global and 2 other investors


Luxstay, the online market for short term luxury vacation rentals

Capital disclosed: 17 million USD

Luxstay, the most luxurious modern flight booking and ticketing app in Vietnam. Through a mobile application that is popular on both Android and iOs, it is the solution to help customers choose and find the best resort and travel destination. What's more, real estate owners can bring their wide range of products to the platform.

Company Overview

Established: 2016

Location: Hanoi (Vietnam)

Investors: GS Group, BonAngels Venture Partners, CyberAgent and 7 others


Prox, the online listing platform for housing renting and buying services

Capital disclosed: 12 million USD

Propzy offers clients an online listing platform for buying/renting residential real estate. Users can register and search for the property of their choice. Property owners can create listings by providing essential information such as housing type, location, photos, prices, area, and utilities, etc. Its mobile application is optimized for both Android and iOS devices. In addition, it provides services such as asset survey scheduling, legal and financial advice or loan assistance to help complete transactions when needed.

Company Overview

Established: 2015

Founder: Donald Henig

Location: Ho Chi Minh City (Vietnam)

Investors: Stonebridge Capital, Insignia Ventures Partners, GS Shop and 4 other investors

Learn more about Unicorn, Soonicorn or Minicorn startups

The Soonicorn Club operates its members who are unicorn, soonicorns and Minicorns businesses. Inside:

  • Unicorns - companies valued at over $ 1 billion.
  • Soonicorns - companies that are overvalued and have a good chance of becoming Unicorns soon.
  • Minicorns - early-stage companies with the potential to become Unicorns in the long term.

 >> All about Soonicorn, Unicorn, Minicorn startup companies and others.

Club Tracxn Soonicorn offers a thorough selection of companies with high potential and high growth. The shortlist is based on a combination of many publicly available signals and detailed company analysis by our internal team of experts. Companies that make the cuts are those that show promising performance across a variety of parameters - market size, limited investor investment, excellent execution, and growth prospects. Future.