By 2021, Vietnam's startup ecosystem has attracted a record amount of capital amounting to more than 1.3 billion USD. Right from the beginning of 2022, many new investments with a scale of millions of dollars continue to appear, the remarkable common point is that there are many startups in the wholesale field in e-commerce, also known as B2B, to distinguish from current B2C retail models such as Tiki exchanges, Lazada, Shopee. Why B2B wholesale models are now sucking up cash flow.

Since its inception, the Internet has gradually crept into all areas of life. The recent Corona pandemic is also one of the factors that further promote the power of technology in people's lives, as online shopping gradually changes the form of in-store shopping. The explosion of e-commerce market platforms that provide a variety of goods and origins at competitive prices has met the consumer needs of the majority of the population. Think about when you last bought online and if every time you need to buy something, the internet is the first place you think of to look up information, and order.

In particular, the manufacturing and wholesale industries are the two industries that generate outstanding growth for the B2B market. In fact, still operating in the traditional way has slowed down the development momentum that should have been in the industry. While B2C e-commerce has grown to become an integral part of today's life, B2B e-commerce is still in its infancy and there are many opportunities to explore. Buyers and sellers in the B2B e-commerce model are looking forward to better purchasing process experiences, enjoying the benefits of online purchases that the B2C e-commerce model has long brought. Seizing that opportunity, Startups in Da Nang city have had very successful startup projects with a wholesale model in B2B e-commerce.

E-commerce model on Selly platform

Typical among them is Selly, an e-commerce model based on social network interaction, which has helped create jobs for hundreds of thousands of women and people who lost their jobs due to the impact of Covid-19. With the "3 no" policy, including no capital, no warehousing, and no operation. This social commerce model helps them start a business, and generate sustainable income without capital, without requiring storage, and without worrying about the operation. Doing business through the Selly app is very simple, you just need to download the Selly app, access the application, and explore Selly's rich inventory. Then select the product you want to sell, and share images and product information via messages, Zalo, and Facebook.. for family, friends, or anyone who needs to shop. After having an order, Selly will help you ship it to your customers. With a network of more than 660 genuine assurance suppliers, diversified more than 18,200 items from brands such as Senka, Anessa, Remax, BamBoo,.. and hundreds of thousands of sales individuals. After 10 months of operation since 4/2021, Selly has achieved 300 times business growth. The company currently accompanies more than 300,000 sales partners, of which 80% come from small cities, mostly housewives and those who lost their jobs due to Covid-19, which can increase income by up to 68 million VND per month.

Sales platform Selly receives $2.6 million in funding

With the aim of supporting online businesses easily without capital, creating jobs, and increasing income, improving the lives of millions of Vietnamese users. The Selly platform has been supported by the Department of Science and Technology in terms of funding and advice to complete the stages of the operation process, including Sales Needs Survey; system analysis and design; Building Selly and IMS systems; Selly Website Builder; Test and perfect the application and Deploy the Selly Platform.

Currently, the attractive potential has helped Selly receive the attention of investors. In the Pre-Series A funding round, the platform raised $2.6 million from CyberAgent Capital, Do Ventures, Genesia Ventures, JAFCO Asia, and KVision.

Information about funds investing in Selly:

CyberAgent Capital, a subsidiary of Japanese conglomerate CyberAgent Inc, invests in more than 350 companies globally. Of these, 50 companies were listed on the Tokyo Stock Exchange. The fund focuses on technology companies from the Seed to Series A phases.

Do Ventures is a $50 million early-stage venture capital fund that serves as a strategic partner for startups. Do Ventures seeks opportunities to invest in technology startups capable of developing products/services that bring convenience and enhance the lives of consumers in Vietnam and Southeast Asia.

With a "Grow by Doing" philosophy, Do Ventures believes that in order for a startup to grow quickly and stay ahead, founders need to be able to execute brilliantly, and be willing to do more to have more chances of finding a recipe for success. Some of the companies that have been invested by Do Ventures include: F99, Palexy, Manabie, MFast, VUIHOC, Bizzi, and Validus.

Genesia Ventures is a Japan-based venture capital fund that invests in and supports early-stage startups with a vision to bring opportunity and prosperity to society as a whole while contributing to the development of Asia. With three offices in Tokyo, Jakarta, and Ho Chi Minh City, Genesia Ventures has invested in more than 100 startups with total assets under management (AUM) of $120 million.

Based in Singapore, JAFCO Asia is an early-stage venture capital fund that invests in technology companies in Southeast Asia, India, China and Taiwan. Currently, the fund has offices in Singapore, Beijing, Shanghai, and Taipei. JAFCO Asia's parent company is JAFCO Co., Ltd, the largest venture capital fund in Japan.

The fund's notable investments include Shein, Palfish (China), Appier (Taiwan), Anymind (Singapore), and many other successful startups. The fund focuses on technology companies in the Seed to Series A period, particularly in the Asia Pacific region.

KASIKORN VISION (KVision) is an investment company established to create enhanced value for KASIKORNBANK GROUP (KBank Group), Thailand's second-largest commercial bank.  co-creation of solutions, the establishment of partnerships, the establishment of joint ventures, and direct investment (M&A). The fund focuses on technology companies from the Pre-Series A phase, focusing on ASEAN, South Korea, Japan, China, and Israel. The fund currently has offices in Thailand, Vietnam, Indonesia, Singapore, and China. With strong financial potential, KVision has an investment budget of more than 450 million USD. The fund's outstanding portfolio includes Lines Corporation (South Korea), Grab (Singapore), Jita (Thailand), Pawoon (Indonesia), SeedCom Group (Vietnam), KiotViet (Vietnam)