Selly Co., Ltd, a startup headquartered in Da Nang’s Hai Chau District, announced on Tuesday that it had successfully raised US$2.6 million from a Pre-Series A funding round to upgrade products and expand the e-commerce market. The funding capital came from investment funds of CyberAgent Capital, Do Ventures, Genesia Ventures, JAFCO Asia and KVision.

Selly is considered one of the pioneering startups for community interactive e-commerce model in Viet Nam.

Selly is a platform dedicated to those who want to run an online business with the criterion of ‘3 Nos’: no capital, no inventory, and no worries about operation.

In terms of operation, Selly provides quality goods at the best prices from manufacturers to people who want to run an online business without capital.

What you have to do is to access Selly to find products you want to sell, and then post product information on social network sites like Facebook, Zalo, Instagram... or send it to your potential customers.

After only 10 months of operation (from April 2021), Selly’s business growth has increased by 300 times. Selly currently has more than 300,000 sales partners, 80% of whom are from small cities, and are housewives and people who have lost their jobs because of COVID-19.

Mr. Thong Le Anh Tuan, the Founder cum Director of the Selly Co., Ltd., said that with the new capital, the company will continue to improve products to bring the best experience to sales partners and suppliers, as well as introduce Selly to many small provinces and cities of Viet Nam to create income for people.

A representative from the JAFCO Asia investment fund said explained the main reason for investing into Selly is that this business model can help people earn extra income without initial investment, especially the group of people who have their jobs lost or income reduced because of COVID-19.

Meanwhile, a representative from the CyberAgent Capital Vietnam fund spoke highly Selly for its very large and fast-growing market that is different from traditional e-commerce.

It is known that, in addition to Selly, Mr. Thong Le Anh Tuan is also the founder of a number of other startups such as Zody (the application aims to help its users accumulate points when they spend money in eating and drinking establishments), Cashbag (a mobile application where you get money back in exchange for your purchases online through Cashbag’s affiliate links), and the food and tourism-related information sharing channel ‘Delicious restaurants in Da Thanh’.

Reporting by PHONG LAN - Translating by M.DUNG