Rootopia, a pioneer in Fintech Education in Vietnam, secures $1 million in pre-seed by Genesia Ventures, ThinkZone Ventures and BK Fund15/11/2022 Rootopia announced the company has raised $1 million in a pre-seed round from Genesia Ventures, ThinkZone Venture and BK Fund
About Rootopia.vn: Rootopia is a fintech platform that supports students in continuing their education through solving their school tuition and fees needs and furthermore.
The platform helps to connect angel investors quickly and intuitively with parents in need of funds for their children’s school fees. Each case goes through strictappraisal to ensure that the loan will be granted to the right person and that the borrower is able to repay the loan, and since loaned tuition fees are paid directly to schools, the platform ensures that the money will be put to good use.
Since its launch more than a year ago, the platform has connected a lot of students with angel investors to help them pursue their studies at more than 100 schools and educational centers, in 10 provinces and cities in Vietnam. 70% of parents are mothers and female students. The support of Rootopia and the angels has helped many students achieve the best academic results.
The overview of the education market in Vietnam also gives Rootopia a lot of room for growth. Firstly, Vietnam is a country where families often show strong support in their children's education, spending almost half of their income on education. Secondly, in terms of school status, universities tend to lean towards increasing autonomy and reducing dependence on the state budget, resulting in tuition fees that can increase up to 10% per year (**). In addition to the current situation of high consumer prices, the expenditure for a student is increasing, so some families are looking for financial and tuition assistance.
With the funding, Rootopia plans to continue its strategy of experimenting and growing its early user base to reach product - market fit. As well as, developing the foundation of the technology platform to guarantee safety, security, and operational efficiency to serve more students to uplift their future through better education.
Truong Nguyen (Bomi) - Co-founder/CEO - Rootopia
About founding team: Rootopia was founded in July 2021 by Nguyen Xuan Truong (Truong Bomi), Tran Quang Khanh, and associates. Truong is a well-known startup entrepreneur in Vietnam with solid experience in platform startups, who led the local leading on-demand delivery platform Ahamove as CEO and grew cashless money transfer to the masses of MAU million customers at MoMo through gamifications. Meanwhile, Khanh is an authentic geek, who co-founded and led as CTO at the trusted product partner GEEK Up, which stands behind the development of fintech products of TPBank, Shinhan Finance, SSI, Waitrr, and Funding Society.
About Genesia: Genesia Ventures is a Japan-based venture capital firm that invests in and supports seed and early-stage startups with a vision of creating a society of opportunity and prosperity for all. Genesia Ventures has three offices, in Tokyo, Jakarta and Ho Chi Minh City, with a total AUM of USD 200M. Genesia has invested in more than 10 startups in Vietnam so far, such as Homedy, Luxstay, Kamereo, Manabie, eDoctor, BuyMed, Vietcetera, Fundiin, Selly, MVillage.
About ThinkZone Venture: ThinkZone Ventures is the largest local-resourced VC firm in Vietnam, focusing on Pre-seed to Series A tech startups from diverse verticals, with investment sizes up to $3 million. Some prominent startups ThinkZone Ventures invested including EMDDI, eJoy, GIMO, Edupia, Fundiin,...
About BK Fund: BK Fund is a venture capital, established by businesses and individuals who are Bach Khoa (HUST) alumni invest and contribute capital. BK Fund has the mission of investing, incubating and commercializing technology in universities, investing and incubating staff, students and alumni. Some startups were funded by the BK Fund, such as eJoy English, Gimo.