Japan, Monday, Feb 28th, 2022
Javis Ventures has completed its investment in Vietnam’s Fintech Easygop, a Buy-now Pay-later (BNPL) provider to bring fair and affordable financial inclusion to Vietnamese consumers. The round was joined by Ascend Vietnam Ventures, Son Tech Investment, and Founder Angels.
With a majority of the population being digitally-connected, retail-savvy, and (ironically) underbanked with only 10% able to get access to credit cards, Vietnam is calling for innovation and an influx of FinTech startups including BNPL to solve its big headache: financial inclusion.
“Traditional finance products only protect Lender’s interests and discourage payback motivation from End-users due to high interests, various types of fees, and complicated processes . What’s new for EasyGop BNPL in Vietnam is our consumer-centric design to nurture pay back early with no penalties. Vietnamese people deserve better treatment.”Founder CEO, Olivia Anh Nguyen.
Growing with a purpose, EasyGop provides seamless pay later service at medium to premium ticket size for families in Vietnam, helping emerging middle-class Vietnamese afford a sustainable living standard. Top categories loved and needed by Vietnamese households are: Private Education, Private Healthcare, Bedding, Furniture, Mom & Kids
EasyGop launched its 1st Minimal Viable Product in 2020 and welcomed early adopters across 22 (out of 64) cities and provinces during the Pandemic. The company counts Vua Nem (Mattress King), a leading retailer backed by Mekong Capital, among its early merchant partners. Recently, EasyGop has entered a strategic partnership with a top local Payment Gateway, which boasts 15M+ users, to extend seamless BNPL services to both offline and online retailers.
“Thanks to EasyGop, our delighted customers no longer have to see loan sharks for expensive loans. And that’s why we started our company”Founder CEO, Olivia Anh Nguyen.
With a sustainable approach for growth, EasyGop has onboarded YOLA (PE-backed elite English Education Provider), Lotte Aluminum (exclusive supplier of Lotte Household appliances), and got interests from leading retailers such as Index Living Mall (Furniture Retailer), Hoan My Eye Hospital (PE-backed Healthcare provider), and BHL Group (K12 Education Group).
The founder team consists of local experts who possess global experience in FinTech, Digital Growth, and Investment, coupled with profound insights into Southeast Asia and a deep understanding of Vietnam’s consumer finance landscape. With previous exposure to various ventures and enterprises such as GoBear, One Mount Group, JP Morgan, the EasyGop team aims to be the leader of BNPL in Vietnam and the region.
We are delighted to back Olivia and her team on their vision of fair and affordable financial inclusion to Vietnamese consumers through technology and innovation. We are especially impressed by the company’s well-thought route to market strategy and its responsible approach to consumers which is very aligned with our ESG framework.Takayuki Kumagai – CEO Javis Ventures
Vietnam is forecasted to be the fastest-growing fintech market in Southeast Asia. With mobile phone use by more than 80% of the population and low bank penetration through the country, Vietnam already had high potential for fintech growth. EasyGop with its well-thought route to market and capable founding team is well-positioned to be capturing a big share of the fast-growing market.
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