Vietnamese merchant management platform SoBanHang has raised at least US$3.8 million in a pre-Series A round to expand its digital services for micro-enterprises across the region, according to regulatory filings and a report by DealStreetAsia.
The round was anchored by Malaysia’s Hong Leong Bank, which invested US$2 million, while OSK-SBI Venture Partners contributed US$1.5 million.
Existing backers FEBE Ventures and Antler also participated, filings with Singapore’s Accounting and Corporate Regulatory Authority showed.
Sources told DealStreetAsia that the fundraising is still ongoing.
The latest financing comes three years after SoBanHang raised US$4 million in seed funding in 2021 across two tranches.
Founded in mid-2021 by brothers Hai Long Bui and Hai Nam Bui, Finan developed SoBanHang to help family-run and micro businesses manage sales, operations, and customer transactions via smartphones.
The funding follows a recent strategic partnership between Shinhan Bank Vietnam and Finan, which launched Shinhan Store, an integrated platform combining banking services with merchant management tools.
The initiative aims to address Vietnam’s fragmented small-business ecosystem, where many merchants still rely on manual bookkeeping or multiple standalone apps, limiting efficiency and access to formal credit.
Through Shinhan Store, merchants can manage sales, track revenue, handle inventory, and issue electronic invoices while also opening bank accounts and applying for loans within the same application.
Banks and fintech players are increasingly targeting Vietnam’s underserved micro-business segment, which remains large but highly under-digitised, as competition intensifies around embedded financial services.
Featured image credit: Edited by Fintech News Malaysia, based on image by freepik via Magnific
This article first appeared on Fintech News Singapore
