Payroll app Nano receives $6.4 million investment from Openspace Ventures
Nano, a startup operating in the payroll industry in Vietnam, recently raised $6.4 million in a pre-series A round led by Openspace Ventures.
Currently, Nano’s total investment capital is 9.4 million USD. The Fun application, Nano’s main application, allows employees to advance wages on demand. From there, users can better control personal finances and cash flow.
Founded and developed in 2020 by former Uber Vietnam director Dzung Dang and Focal Labs founder Thang Nguyen, Nano aims to support a user group that includes low- and middle-income employees. in Vietnam. This is a group of users who tend to be affected by loan sharks. Last May, this startup also successfully raised $ 3 million in the seed round.
At the moment, Nano says the app has more than 100,000 users from several companies such as FPT Retail, Central Retail, GS25, and Family Mart. The startup estimates that the average employee will use the Fun app nearly four times a month to get paid.
With the newly raised capital, Nano will focus on attracting more large business partners in the manufacturing sector, specifically in the textile, shoe, electronics and wood manufacturing sectors. Nano is aiming to have 500,000 users.
In addition, Nano also wants to add some features to its platform such as paying bills or buying phone cards.
