GIC, SoftBank could sell stake in Vietnam’s fintech firm VNLife

0
3K

Singapore’s GIC Pte Ltd and Japan’s SoftBank Vision Fund are considering selling their stakes in Vietnamese fintech firm VNLife, Bloomberg reported on Tuesday, quoting people with knowledge of the matter.

The Singaporean sovereign wealth fund and SoftBank Vision Fund 1 are working with a financial adviser and have reached out to potential investors to gauge interest, the people said, according to the report.

A transaction could value VNLife at $1 billion or more, the people said. Deliberations are at an early stage and there’s no guarantee of a deal, the people added.

Representatives of GIC and SoftBank Vision Fund declined to comment, the report added.

Founded in 2007, VNLife has a presence in Vietnam, Singapore, Myanmar and Cambodia, according to its LinkedIn page.

The company said it is a diverse ecosystem comprising of leading companies driving transformations in both traditional and growing demand sectors in the economy such as tourism, logistics, commerce.

Fintech VNPay is the current forerunner of VNLife’s subsidiaries. VNPAY is the leading Vietnamese digital payment firm, and also the pioneer of offering QR code payment in the country.

VNPay currently provides electronic payment services to more than 40 banks, five telecommunications companies and 20,000 businesses.

VNPay ecosystem itself has a wide portfolio of systems and services ranging from banking services (QR-Code payment gateway which connecting business units to the bank), financial services (VnMart e-wallet, VnPayBill bill payment, VnTopup phone credit recharge), to e-commerce websites (Vban.vn) and flight booking service (VnTicket)

According to Bloomberg‘s report, the company raised over $250 million in a funding round led by private equity firm General Atlantic and Dragoneer Investment Group in 2021, having raised $300 million a couple years earlier from GIC and SoftBank Vision Fund 1.


#Fintech #DigitalPayments #VNPay #InvestmentNews #SoutheastAsia

Sponsored
Search
Sponsored
Categories
Read More
Networking
SEEDS Capital appoints 20 new partners to catalyze at least $220M of investments into Singapore-based deep tech startups
SEEDS Capital (SEEDS), the investment arm of Enterprise Singapore (EnterpriseSG), has appointed...
By Ifvex 2025-02-05 08:21:42 0 11K
Networking
NVIDIA to manufacture American-made AI Supercomputers in US for first time
US-based chipmaker NVIDIA is working with its manufacturing partners to design and build...
By Ifvex 2025-04-17 07:24:43 0 6K
Networking
Yahoo names Josh Line as Chief Marketing Officer
American proprietary web portal Yahoo has on Tuesday announced the appointment of Josh Line as...
By Ifvex 2025-04-01 09:31:48 0 9K
Food
Cherry Galette
This recipe for rustic cherry galette with almond pastry is easy to make and delicious for...
By Recipes 2025-02-12 04:59:16 0 12K
Causes
Singapore’s education debate: Beyond class sizes
Singapore’s education system has earned global acclaim, consistently producing students who...
By Ifvex 2025-01-08 13:11:12 0 11K
Ifvex https://ifvex.com