Founded by two former Lazada executives, the startup tells Tech in Asia that it’s in the process of raising up to US$10 million in series A funding to tighten its grip on its sole market, where it claims to be a top player.
With OnPoint, they don’t have to worry about all those things, says co-founder and CEO Tran Vu Quang.
Whether brands are selling on marketplaces like Lazada and Shopee, social media or their own websites, OnPoint takes care of the requirements for bringing the goods to customers’ doors, he says.
Quang and Le Xuan Long – previously the chief commercial and chief marketing officers of Lazada Vietnam, respectively – ventured out on their own in 2017 after seeing a wave of brands knock on the ecommerce firm’s doors, wanting to sell online.
It had just been a year since Alibaba acquired control of Lazada, and the China giant’s founder Jack Ma had shared in a discussion with staff that the business was going to be about “building a platform, not an empire.”
“It is about enabling others, not [ourselves].