CNV, a cloud-based business and marketing solutions provider in Vietnam, has secured US$1 million in fresh funding from Wavemaker Partners.
The round comes three years after CNV raised strategic pre-seed funding from SME payments and services firm NextPay.
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Founded in 2020 by Nguyen Tuan Phu and Do Dang Khoa, CNV offers digital transformation SaaS products and marketing growth services to assist enterprises in Vietnam to achieve sustainable growth via marketing, loyalty and e-commerce activities.
CNV currently serves over 2,0000 customers, including multinational corporations, local enterprises, SMEs, MSMEs, and government agencies, helping them optimise their client-facing activities and backend customer data platform analysis activities.
In 2023, CNV launched the Zalo mini apps, which provide channels for businesses to engage comprehensively with customers. It gives an app-within-app experience that lets businesses acquire users at a lower cost and engage with them more deeply and seamlessly.
CNV claims to have witnessed a 250 per cent growth in revenue and number of customers acquired.
“Our next big steps include fostering collaboration to design exclusive financial products for each and every customer segment,” said CNV CEO Phu Nguyen.
Also Read: Startup investments in Vietnam see 39% drop in Q1
Vietnam’s business environment is increasingly dynamic and entrepreneurial, with strong backing from an SME and MSMEs base. According to the Ministry of Planning and Investment, Vietnam has approximately one million registered operational businesses, and more than 97 per cent of SMEs contribute to 45 per cent of the national GDP.
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