According to Homegrown tech firm readies Vietnam venture | Inquirer Business, Enstack, a local provider of e-commerce solutions, is to formally introduce its product in Vietnam this year as part of its regional expansion strategy in response to the growing demand for digital tools among small and medium-sized businesses (SMEs).
Enstack's CEO and co-founder, Macy Castillo, shared that the company has been testing its goods with a small number of merchant partners and that it is hoping to gather more market data so that it may modify its product offerings in response to customer demand. On the sidelines of a recent event in Taguig City, she noted that the next step is to ensure that we gather the correct input and develop the right items for the local market.
Around 150 merchants participated in the product testing when it began last month, but Castillo claimed that since then, it has grown.
The Enstack representative emphasized the requirement to develop a Vietnamese-language version of their services for the benefit of Vietnamese users, noting that they had seen certain variations in Vietnamese consumers' behavior from Filipino ones.
She noted that, in comparison to us, Vietnamese consumers were far more cashless, and that the cash-on-delivery program was merely a "secondary payment option" for them.
According to her, the learning process is going really well, and we are building the product to ensure the local users. Enstack has secured $3 million in fundraising from a Series A funding round, bringing in money from a number of investors.
Mangrove Capital Partners, which also supported the website builder Wix and the communications network Skype, served as its leader. William Kim of the online retailer Shinsegae International and financial technology startup Xendit were also there.