The Rootopia team
Rootopia, a fintech startup connecting students with angel investors in Vietnam, has secured US$1 million in a pre-seed round from Genesia Ventures, ThinkZone Venture, and BK Fund.
With the funding, Rootopia plans to grow its early user base to reach product-market fit. It will also improve its technology platform to serve more students to uplift their future through better education.
Rootopia was founded in July 2021 by Nguyen Xuan Truong and Tran Quang Khanh. Truong was previously the CEO of leading local on-demand delivery platform Ahamove. Khanh is a geek, who co-founded and held CTO’s role at GEEK Up.
Rootopia is a fintech platform helping students to address their tuition and fees needs. It helps connect angel investors with parents who need funds for their children’s school fees.
Each case goes through strict appraisal to ensure that the loan will be granted to the right person and that the borrower can repay it. Since loaned tuition fees are paid directly to schools, the platform ensures that the money will be put to good use.
Since its launch more than a year ago, the platform has connected many students in over 100 schools and educational centres in ten provinces and cities in Vietnam with angel investors.
Vietnam is a country where families spend almost half of their income on education. In terms of school status, universities tend to lean towards increasing autonomy and reducing dependence on the state budget, resulting in tuition fees that can increase up to 10 per cent per year. Rootopia senses an enormous opportunity here.
Genesia Ventures is a Japanese VC firm investing in seed and early-stage startups. It has invested in ten startups in Vietnam, such as Homedy, Luxstay, Kamereo, Manabie, eDoctor, BuyMed, Vietcetera, Fundiin, Selly, MVillage.
ThinkZone focuses on pre-seed to Series A tech startups from diverse verticals, with investment sizes up to US$3 million. Its portfolio companies include EMDDI, eJoy, GIMO, Edupia, and Fundiin.
BK Fund was established by businesses and individuals who are Bach Khoa (HUST) alumni to invest and contribute capital. It invests, incubates and commercialises technology in universities, investing and incubating staff, students and alums. Some startups funded by the BK Fund are eJoy English and Gimo.
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