Securing fresh funding of US$1 million from Wavemaker Partners, CNV is a cloud-based business and marketing solutions provider in Vietnam.
This round of funding comes three years after CNV received strategic pre-seed funding from SME payments and services firm NextPay.
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Established in 2020 by Nguyen Tuan Phu and Do Dang Khoa, CNV offers digital transformation SaaS products and marketing growth services to help enterprises in Vietnam achieve sustainable growth through marketing, loyalty, and e-commerce activities.
CNV currently caters to over 2,000 customers, including multinational corporations, local businesses, SMEs, MSMEs, and government agencies, assisting them in optimizing their client-facing activities and backend customer data platform analysis activities.
In 2023, CNV introduced the Zalo mini apps, providing businesses with channels to engage comprehensively with customers, offering an app-within-app experience to acquire users at a lower cost and engage with them more deeply and seamlessly.
CNV reports a 250% growth in revenue and number of customers acquired.
“Our upcoming plans include collaborating to design exclusive financial products for each customer segment and preparing for expansion into the Philippines in 2024,” said CNV CEO Phu Nguyen.
Also Read: Startup investments in Vietnam see 39% drop in Q1
Vietnam’s business environment is increasingly dynamic and entrepreneurial, with significant support from an SME and MSME base. According to the Ministry of Planning and Investment, Vietnam has around one million registered operational businesses, with over 97% of SMEs contributing to 45% of the national GDP.
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