Vietnam-based VNLife, a technology company that operates in
travel, banking, retail and more, has raised $250 million in Series B funding.
The round is led by General Atlantic and Dragoneer Investment
Group, with participation from PayPal Ventures, EDBI and existing investors GIC
and SoftBank Vision Fund 1.
VNLife says it will use the funding to “further capitalize on
the vast market opportunities in an increasingly digital Vietnam...”
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VNLife’s travel subsidiary, VNTravel, is a domestic online
travel agency offering booking of air, hotels and tours and activities to more
than five million customers through platforms such as Mytour.vn, Dinogo, Tripi
and more than 30 mobile banking applications.
July, VNTravel signed an agreement with Yanolja Cloud, a hospitality software
provider, to provide its technology to hotels in Vietnam to enable digital
check in and check out, contactless payments and other services.
“The global experience and perspective they
can bring to further support our growth ambitions is very exciting. Given a
rapidly growing digital consumer base in the country, the additional funding
will allow us to accelerate our efforts in technologically enabling our
merchant partners to keep up with this change,” says Niraan De Silva, managing director,