Patience needed for startup success

Patience needed for startup success
14:12 | 20/01/2021
Patience needed for startup success
Local e-wallet startup MoMo last week completed its Series D fundraising round worth $100 million, including global leading investors Goodwater Capital, Kora Management, and Macquarie Capital. However, not every business has been so fortunate.
“Since the pandemic broke out, it has been harder to mobilise capital,” said Tran Nguyen Le Van, CEO of Vexere – a local startup offering online bus tickets. Because of the health crisis, fewer people have been travelling by bus, bringing about a pitiful performance for the company.
Van said that startups generally have no assets such as mortgages and so are unable to access bank loans. In the case of Vexere, the startup can only count on investment capital. “Travelling restrictions have hampered us from a direct meeting with investors to settle the investment deal. So, we have yet to access the potential capital.”

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