Vietnamese technology startup successfully raised $3.5 million in capital

This transaction marks one of the largest seed round of funding ever into a startup operating in the field. technology in Southeast Asia.

Launched at the end of 2021, this technology startup aims to become a global company from the very beginning. True Platform’s products are software and applications aimed at solving problems in the management and operation of enterprises. True Platform helps businesses optimize operational processes, interact, transact with customers, manage customer relationships more effectively…

Vietnamese technology startup successfully raised $3.5 million in capital - 1

True Platform team.

“In fact, the amount of capital committed to True exceeded $5 million, and even after the terms were finalized, True continued to receive offers for further investment. However, we choose to receive an investment that is just enough for the long haul.

This is the most extraordinary round of funding I’ve ever done – not only because of the size and value for a start-up, but also because of the consensus among investors that True has a long way to go. We respect the trust of investment funds and fully believe in the opportunity Vietnamese people can create meaningful products around the world.”True Platform CEO Pham Kim Hung looks back on his journey.

With an investment of $3.5 million, CEO Pham Kim Hung said, True Platform will focus all its efforts on developing and perfecting the product ecosystem in the right direction of a Product-Centric company. In particular, expanding the staffing scale and building the first 100 people team is one of the top priorities of this startup at the moment.

In the near future, True Platform will focus on building two important product sets for market Internationally are Success Platform – Customer-oriented management platform and Rework Platform – New-style operating platform for internal businesses and between companies. Both are slated to release this year.

“As a product-centric company, we know that software engineers will be the future of True Platform. We clearly understand that True Platform’s journey is a long journey with many challenges, also fully understand the fierce competition in the international market as well as certain gaps in both experience and technology capabilities, however However we have faith and perseverance.

We believe in the talent of Vietnamese engineers if they are given the opportunity to solve meaningful problems at the world level. And we are ready to work persistently for 5 years, 10 years or 20 years for this game.” True Platform founders conclude.

The funding round was led by January Capital, an investment fund from Singapore with experience in investing in more than 40 startups, with investment scales ranging from Pre-Seed to Series C. in the Asia-Pacific region, targeting founders with big ambitions and the ability to go the long way.

About Alpha JWC Ventures and BEENEXT, both of these funds have invested in the startup Base.vn – Vietnam’s most popular corporate governance platform founded by CEO Pham Kim Hung. In particular, Alpha JWC Ventures owns a portfolio of extremely potential startups, especially, up to 11 companies are very close to realizing the dream of becoming a unicorn. This fund has just successfully raised more than 400 million USD in capital, marking the milestone of becoming the largest venture capital fund in Southeast Asia specializing in investing in startups in the early stages.

Meanwhile, BEENEXT was founded in 2015 in Singapore, focusing on investing in startups in the Seed and Series A rounds. This fund focuses on startups operating in the field of Technology, SaaS, with products to serve the market. globally, has internal resources for strong growth and potential for market expansion.

On the FPT side, after making a strategic investment in Base.vn in mid-2021, with more than 20 years of globalization experience, the Group continues to accompany CEO Pham Kim Hung, invests in True Platform to support support not only in capital, but also in the position and presence of FPT in the international market. Accordingly, FPT will support True Platform to expand its network and affirm Vietnamese intelligence on the global technology playground.

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