Start-up CVN Loyalty receives VNĐ11 billion investment

September 01, 2020 - 04:15
Established at the end of 2017, CNV Loyalty creates customer care applications for businesses.


Nguyễn Hữu Tuất, CEO of NextPay and Nguyễn Tuấn Phú, Founder cum CEO of CNV Loyalty during the investment contract signing ceremony. — VNS Photo

HÀ NỘI — NextPay Joint Stock Company on Monday announced it had invested VNĐ11 billion (US$473,000) in CNV Loyalty.

Established at the end of 2017, CNV Loyalty creates customer care applications for businesses.

Nguyễn Tuấn Phú, founder cum CEO of CNV Loyalty said: “With only the cost of VNĐ50 - 150 million, significantly lower than building a customer care system in a traditional way, Loyalty designs a customised application for the business with its own brand to interact directly with customers. The advantage of this technology is that it can reach customers at a lower cost than email and text messages. In particular, the rate of accessing customers accurately up to 95 per cent.”

The start-up has received an investment of VNĐ11 billion from NextPay and Next100 - investment fund from Nguyễn Hòa Bình after two months of an appraisal.

Nguyễn Hữu Tuất, CEO of NextPay said: “We are living in a digital economy whose main form is the app economy. One day, if a business's brand name doesn't appear on a customer's phone, that brand is no longer available. CNV Loyalty is a solution to help brands always present directly, interact directly, understand their customers directly at a zero cost. NextPay wishes to launch the CNV Loyalty application to hundreds of thousands of Vietnamese businesses through the network ecosystem of businesses using NextPay's payment and administration platform, using sales teams across of NextPay to accelerate development.”

CNV Loyalty will become an important piece in Nextpay's portfolio of products and services for digital transformation. The investment of NextPay will help CNV Loyalty to invest more deeply in technology and products.

With the market heavily influenced by COVID-19, Vietnamese start-ups still developing and receiving investment from domestic investors without being dependent on venture capital abroad is a great encouragement to Việt Nam's start-up community. — VNS