ScaleUP receives seed investment from Nextrans fund

ScaleUP, a provider of groundbreaking multi-channel sales solutions for e-commerce, has announced receiving seed funding from Nextrans, a South Korean investment fund.

The exact amount is not disclosed, but this is the round where startups desperately need funding to develop their business ideas. These funding rounds are typically led by angel investors, endowments, or incubators and accelerator programs. Generally, the minimum investment in this round ranges from $100,000 to $1 million.

Established in 2023 by a team of experienced professionals in the large-scale retail and e-commerce industry in Vietnam, ScaleUP is a provider of Scale-as-a-Service or Growth-as-a-Service solutions in the Vietnamese market.

Specifically, while many e-commerce sales solutions only provide a platform, requiring businesses to train and operate it, ScaleUp's solution is a complete package. Businesses can use it almost immediately.

ScaleUp's target customers are retail businesses and brands in the fashion , fast-moving consumer goods, and cosmetics sectors, aiming to help them unlock the full potential of multi-channel sales and achieve superior revenue growth. The company focuses on increasing the profitability and sustainability of multi-channel sales for its client businesses.

The company provides technology services and solutions to help businesses and retail brands in the fashion, fast-moving consumer goods, and cosmetics sectors, among others, unlock the full potential of multi-channel sales and achieve outstanding revenue growth.

Specifically, ScaleUP helps businesses manage sales across multiple online platforms in conjunction with their existing physical store system. The company focuses on the profitability and sustainability of multi-channel sales for its clients.

According to Mr. Nguyen Quoc Tuan, Founder of ScaleUP, retail businesses must invest heavily in systems and human resources to develop effective multi-channel strategies. This is where ScaleUP comes in, as the company provides integrated multi-channel sales solutions with flexible investment costs tailored to the needs of each business.

Prior to founding ScaleUP, Mr. Tuan had over 10 years of experience in executive roles at popular multi-channel fashion retail organizations in Vietnam such as Juno and Hoang Phuc International.

Prior to founding ScaleUP, Mr. Tuan held executive roles for over 10 years at popular multi-channel fashion retail organizations in Vietnam such as Juno and Hoang Phuc International.

According to Mr. Tuan, most Vietnamese founders are very good at product development, brand building, and sales development through traditional channels (usually offline).

As online businesses grow, requiring significant investment in technology, human resources, and complex operations, they often struggle and are drawn into ineffective growth strategies such as excessive advertising spending and failing to assess the effectiveness of partnerships with multiple e-commerce platforms. In particular, current service providers in the market often focus solely on generating sales rather than the ultimate business success of their clients.

"Developing multi-channel sales for businesses is definitely necessary, but doing it effectively and sustainably is what our solution aims for," Mr. Tuan said.

Nextrans Investment Fund has supported over 100 startups worldwide since 2004 and began investing in Vietnamese startups in 2015. To date, the fund has made investments in Vietnamese startups, with each investment ranging from a minimum of $50,000 to a maximum of $1.5 million. The fund has invested in startups such as Base.vn, Cooky.vn, Vuihoc, and Azota…

The fund typically focuses on seeking high-growth technology startups, as evidenced by its diversified portfolio, which includes edtech ( educational technology), proptech (real estate technology), medtech (healthcare technology), SaaS (Software as a Service), OTA (Online Travel Agency), logistics, and more.

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