Temasek subsidiary leads VN e-commerce enabler OnPoint’s US$50M Series B round

OnPoint, an e-commerce enabler in Vietnam, has secured US$50 million in a Series B round led by SeaTown Private Capital Master Fund, a fund managed by SeaTown Holdings, an indirect wholly-owned subsidiary of Temasek Holdings.

According to a press release, this is the largest private fundraising round in Southeast Asia’s e-commerce enabler industry in the last five years.

The company will use the new fund to continue expanding its e-commerce enabling ecosystem, strengthening talents and capabilities, and developing emerging technologies with a data-driven approach.

In addition, the partnership will allow OnPoint to tap into SeaTown’s vast networks and experience in the digital economy and consumer sectors across the region and globally.

SeaTown recently invested in the CrownX Corporation and Golden Gate Group in Vietnam.

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Tran Vu Quang, Founder and CEO at OnPoint, said: “Our goal is to create impactful values for the ecosystem by constantly innovating and developing sustainable, seamless customer-centric solutions. SeaTown is a valuable partner for us, given their long-term vision and a wealth of experience in the global digital economy.”

Since 2017, OnPoint provides a one-stop solution that enables consumer brands to accelerate their online growth on multiple channels, including e-commerce marketplaces, social media platforms and brand-owned websites. Its capabilities encompass all aspects of the e-commerce value chain, ranging from the set-up and operations of brands’ online stores to managing digital marketing campaigns, customer services, warehousing and order fulfilment.

Since its Series A round in 2020, the company has focused on developing proprietary technology to integrate and coordinate a network of service partners, utilising data and automating processes to streamline their operations.

Its digital marketing campaign management tool, Galaxy, leverages the power of big data, AI and machine learning. OnPoint has also launched OctoSells, a SaaS product to help SMEs merchants manage online stores “seamlessly”.

OnPoint’s client portfolio includes more than 150 brands from numerous categories such as health & beauty, fashion, mother & babies, electronics/home appliances, pharmaceuticals, digital products, FMCG, pet food, etc. Its notable clients include L’Oreal, Shiseido, Unicharm, P&G, Unilever International, Nestlé, LG, Panasonic, Mondelez, and so on.

“OnPoint’s vision is to ultimately become a platform that impacts all participants of Southeast Asia’s e-commerce economy from brand owners, merchants, service providers to consumers, generating valuing for its employees and shareholders,” added Quang.

OnPoint’s Series B funding round was advised by Rocket Equities.
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