Left to right: Founders of VeXeRe Dao Viet Thang, Tran Nguyen Le Van, and Luong Ngoc Long)
Vietnam-based VeXeRe Joint Stock Company (VeXeRe), an online bus booking system provider startup, today announced the closing of its fourth fundraising round from investors Woowa Brothers, NCORE VENTURES, Access Ventures, as well as other undisclosed investors.
With the funding, VeXeRe said it plans to accelerate market expansion as well as expands to other segments through product development and related sectors.
The company will continue to invest more in devloping mobile products for passengers, bus companies, and drivers to better support the travel and transport industry. With bus transportation demand continuing to grow and is fueled by rapid urbanisation, the company also said it will continue to focus development on its mobile interface to improve the quality of service for passengers.
VeXeRe was established in July 2013 by co-founders Dao Viet Thang, Tran Nguyen Le Van, and Luong Ngoc Long with a mission to support Vietnam’s inter-city bus industry. It offers three main solutions: online ticket booking solution for passengers (on website and app VeXeRe), management software solutions (BMS – Bus Management System), and ticket distribution software for agents (AMS – Agent Management System).
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In the past, VeXeRe has also received investments from CyberAgent Capital, Pix Vine Capital, Spiral Ventures, and BonAngels.
Woowa Brothers is a unicorn startup from South Korea which is known for its food delivery platform BAEMIN. In addition to running a food delivery platform, Woowa Brothers has actively sought areas for innovation, including cloud kitchen operation and testing on using robots for indoor food-serving and food delivery.
With a mission to share its experience and to become a growth partner, Woowa Brothers set up an investment arm in late 2018. It has invested in Southeast Asia, Silicon Valley, and Korea. Woowa Brothers also opened its service in Vietnam in early 2019.
NCORE VENTURES is a corporate venture capital arm of NPC, a public company that manufactures plastic pallets and containers based in Korea, Vietnam, Thailand, Singapore, and Indonesia. Founded in 2017, NCORE VENTURES has invested in 19 startups of which 11 of them are operating in Southeast Asia such as Tiki and TheBank in Vietnam.
Established in 2017 targeting regional early-stage companies, VC fund Access Ventures LLC has been an active investor in the region with a focus on B2B and technology in the Southeast Asia market, Silicon Valley, and Korea.
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VeXeRe reportedly has just completed integrations with major e-commerce marketplaces and mobile payments such as MoMo, ZaloPay, and VNPay.
The company claimed to currently have more than 550 bus companies cooperating to sell tickets, covering over 2,600 domestic and foreign routes, and more than 5,000 ticket agents to help users find bus information and buy tickets online easily.
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Image Credit: VeXeRe
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