Page 22 - Layout 1

COVER STORY

INTO THE MIX which focuses on providing solutions for
the Dropshipping model. According to
Ms. Anh, although its launch was six
months late and so missed the peak shop-
Startups in Vietnam’s e-commerce market have been asserting their ping season in 2021, PlusBase nonetheless
position and expanding their business activities to great effect. received support from users and recorded
better-than-expected growth. “It was a
great lesson for OCG’s staff and also moti-
PHUONG HOA Reports
vation for the Group to make more effort
on its journey to promote cross-border e-
commerce,” she said.
Meanwhile, Selly, a startup pioneering
the social commerce model in Vietnam,
he OpenCommerce Group (OCG), through opportunities for many small and raised $2.6 million earlier this year from
a cross-border e-commerce solutions medium-sized enterprises (SMEs) in the investment funds CyberAgent Capital, Do
T startup, announced that it raised e-commerce sector,” said Ms. Ha Phuong Ventures, Genesia Ventures, JAFCO Asia,
$7 million in a Series A funding round Anh, Chief Revenue Officer at OCG. “The and KVision. Despite facing difficulties
led by VNG Corporation, with the partici- e-commerce sector also has potential to amid the lingering pandemic, Selly suc-
pation of Do Ventures, in early 2022. It grow strongly as it is supported by the ceeded last year in creating an e-commerce
will use the funding to improve products rapidly developing Industry 4.0 era.” platform for vendors in Vietnam lacking
so that it can better support existing users capital. It is now accompanying more than
and approach new customer segments, POSITIVE GROWTH 500,000 vendors on its e-commerce plat-
opening up business opportunities for a More than two years after launch, OCG’s form. According to Mr. Thong Le Anh
diverse set of vendors. In addition to ShopBase has attracted some 86,700 users Tuan, CEO and Co-Founder of Selly, in
Europe and the US, OGC also aims to from 195 countries and territories, helping addition to the support of users, the biggest
capture market share in China and expand the Group implement e-commerce on a factor in its success is that it has a positive
around Southeast Asia. “The overall picture global scale and post a total transaction impact on the community, such as improving
of cross-border e-commerce is forecast to value of $670 million. The startup also quality of life, especially for those who are
be more prosperous, providing break- launched a new platform - PlusBase - easily affected by economic fluctuations.

20 | VIETNAM ECONOMIC TIMES | JUNE 2022 www.en.vneconomy.vn