Published on : Monday, December 4, 2017
Hendale Capital, a Hong Kong-based firm led the round.
This online travel agency company has debuted for consumers in 2016, when it raised a $3 million Series A round led by former Alibaba chief technology officer John Wu.
The company wants to replicate the funding feat accomplished by Traveloka, an online travel agency in Indonesia that raised about $500 million in the past year.
There are smaller Vietnamese competitors include Abay, Atadi, Tugo, and VietnamUniquetour, but foreign brands dominate the market.
There are Vietnamese businesses which were originally set up as tour operators but have shifted to become OTAs, such as.
Vntrip was launched in 2015 and the Hendale Capital invests in the scalable businesses with high-growth potential backed by core technology.
Hendale Capital seeks later-stage venture and growth equity investments. A sector-agnostics fund, its initial commitments range from US$5 million to US$20 million.
Vntrip is the first company in its Southeast Asia portfolio. Vntrip was headquartered in Hanoi claims to be offering the best prices, free airport shuttle services, convenient payment methods and customer service.