BDA advises Seedcom Group on strategic partnership with KVision

BDA Partners is pleased to announce that its client, Seedcom Group, has received an investment from and entered into a strategic partnership with Kasikorn Vision (“KVision”), a subsidiary of Kasikornbank Public Co Ltd. The investment amount was not disclosed.

BDA Partners was the exclusive financial advisor to Seedcom on the transaction.

Seedcom is a fast-growing New Retail champion in Vietnam, founded in 2014 by Huan Dinh, the former Co-Founder of Mobile World Group, Vietnam’s #1 consumer retail company. It is the home to top-of-mind B2C consumer brands (The Coffee House, Juno, Hnoss, Kingfood), as well as B2B solution providers (Scommerce, Haravan, iPOS and KiotViet). Seedcom serves over 200,000 SMEs and 2 million end-consumers in Vietnam.

Under the partnership, Seedcom and KVision will provide merchants and consumers in Vietnam with financial services, including payment solutions, SME lending and other adjacent services such as insurance and wealth management. The partnership will be highly accretive as Seedcom continues to cement its position as the leading New Retail ecosystem in Vietnam, spanning across New Retail tech solutions, F&B, fashion, groceries and other consumer products. The Group has been focusing on developing data engines and New Retail capabilities during Covid-19. The addition of financial products from KVision will be highly synergistic with the growing platform.

Nguyen Hoanh Tien, CEO of Seedcom, said: “We share a common goal with KVision in promoting non-cash transactions and financial inclusion in Vietnam. Even though cash is still king here, we believe the market is ready for disruption. Through the combination of our large customer and merchant base, and KVision’s innovative financial solutions, there will be a lot of business opportunities to capture in the market.”

Pattanapong Tansomboon, Managing Director of KVision, said: “We see tremendous potential in Vietnam market and we strongly believe that Seedcom’s strategic direction is very well-aligned with us – focusing on retail segment with digital enabler solutions. With our new bank branch in HCMC and a strong partnership with Seedcom, we look forward to bringing our innovative financial solutions and product offerings to Seedcom’s ecosystem to serve Vietnam market.”

Huong Trinh, Managing Director of BDA Partners, said: “We’re happy to have advised Seedcom on its collaboration with KVision. This is one of several successful transactions that BDA has undertaken for Seedcom during the past three years. We greatly value the partnership we’ve built with this exciting team of entrepreneurs. We look forward to BDA staying involved and supporting Seedcom’s next stage of growth.”