TheBank.vn secures Series A funding from CyberAgent Capital and NCore Ventures

TheBank.vc from SAMO Media and Tech announced the completion of their first round of funding with an undisclosed amount.

Tue Jan 29, 2019 - 8:12am UTC
TheBank Vn 2

TheBank Vn

29/1/2019 – The Vietnamese financial comparison platform has secured an undisclosed funding capital from Tokyo-headquartered CyberAgent Capital (formerly CyberAgent Ventures) and Korean investment firm NCore Ventures.

The company announces in a release that the proceedings will be used to further improve their service to help clients with making financial decisions based on their needs.

“We strive to understand the nature of customers to achieve the effectiveness of the service, so a quality connection is critical,” said General Director Nguyen Dat of SAMO Media and Tech.

Set up in 2014, TheBank.vn platform currently has 1,300 financial products and 24,000 active active registered financial experts. It also reported to have nearly reach 20 million visitors and have served more than 1 million customers.

TheBank’s platform provides free financial advice to consumers by comparing financial services such as credit cards, loans, savings and insurance.

Future services that will be implemented after the funding includes registration form for loan services, improved card opening process, customized aids in choosing insurance and financial products.

This is CyberAgent Capital’s first investment in Vietnam after a gap of inactivity “For the past two years, the fund focused on old deals and helped companies raise funding as well as exit. Now we will boost new investments,” Dzung Nguyen, CyberAgent Capital’s investment director in Vietnam and Thailand said.

“With the interest in experiential consumption in recent years, the potential of services in fintech companies is enormous. The key now is an extensive investment and right implementation,” said Dzung Nguyen.

Founded in 2017, the Korean investment firm NCore Ventures typically invests in early stages technology startups. It is owned by NPC, a plastic pallets manufacturer in Korea with sales and operations in Korea, Singapore, Vietnam, Thailand, Indonesia, China and USA.

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.