Lately, everywhere I look, I see people admiring new unicorns, proving that prominent Vietnamese technology startups are truly booming and reshaping the digital economy. This is no longer a story of the future but a wave that is happening strongly right now, attracting hundreds of millions of dollars of investment capital each year. With many years of experience in strategic consulting at Pham Hai, I have noticed a clear transformation of young businesses. They not only solve domestic problems but are also ready to reach out to the ocean.
Take a look at the "stars" who are leading the Vietnamese technology game
Prominent technology startups in Vietnam today range from Fintech, Edtech to E-commerce, typically MoMo, VNPay, Fundiin, MindX and Coolmate, playing a pivotal role in promoting the digital economy.
Vietnam's technology startup ecosystem is witnessing the remarkable maturity of many names. They not only survived the "funding winter" but also emerged strong. Below is a list of technology startups that have successfully raised capital in Vietnam and are leading the market.
Billion-dollar "Unicorns" affirm their position: Momo and VNLife (VNPay)
Who is Vietnam's technology unicorn? Those are MoMo and VNPay (part of VNLife) - two Fintech representatives that have exceeded the valuation of 1 billion USD, leading the digital payment market.
MoMo is currently valued at about 2 billion USD after a Series E funding round worth 200 million USD at the end of 2021. From a simple e-wallet, they are gradually transforming into an AI-integrated super application serving tens of millions of users. This evolution is a clear testament to the power of digital technology. To better understand how AI is changing smart applications, you can refer to the article AI Agent the future of smart assistants. Meanwhile, VNPay is no less competitive when it comes to providing QR payment solutions for hundreds of thousands of retail locations nationwide.
New breeze in the Fintech field and "Buy now, pay later": Fundiin
Fundiin is a pioneering startup in the "Buy now, pay later" (BNPL) model in Vietnam, and has just cooperated with Visa and CIMB Bank to upgrade the credit scoring system.
With a capital call of 6.8 million USD from venture capital funds (VC), Fundiin is solving the financial problem for a group of customers who do not have access to traditional banking services (unbanked). Latest updated in March 2026, the partnership between Fundiin and Visa helps them apply global standards in risk assessment. This contributes to improving the application approval rate and significantly reducing bad debt.
Edtech - The future of education: MindX and Clevai
In the Edtech segment, MindX stands out with its ambition to build a "mini Silicon Valley" throughout Vietnam thanks to a capital call of 15 million USD.
Technology education is fertile ground. MindX has successfully raised $15 million in Series B round (April 2023) to expand its network of programming training facilities. They aim to completely solve the problem of shortage of high-quality technological human resources. Clevai is also a notable name when it comes to applying AI to personalize learning paths for high school students.
Changing the game of retail and e-commerce: KiotViet and SoBanHang
KiotViet and SoBanHang are digitizing hundreds of thousands of small and medium-sized stores, making E-commerce and retail easier than ever.
KiotViet is a typical example of a hugely successful SaaS (Software as a Service) model. They raised a $45 million Series B round from KKR to provide a cloud sales management solution. Thanks to these platforms, traditional small businesses can enter the digital transformation process smoothly. SoBanHang also supports creating an online store in just a few minutes, optimizing the sales process.
Potential names in other fields: M Village (Proptech), Coolmate (E-commerce), Techcoop (Agritech)
Besides traditional segments, Proptech, AgriTech and D2C E-commerce also recorded the breakthrough of M Village, Techcoop and especially Coolmate with a record capital call in 2025.
The 2025 market report shows that Coolmate leads in capital raising value with 22.34 million USD in Series B+ round, and continues to close Series C round to implement its global expansion strategy. M Village also just completed its Series B round in July 2024, redefining living space for urban youth. Meanwhile, Techcoop brings breakthrough logistics and financial solutions to the agricultural industry.
Panorama: What is creating the "fever" of Vietnamese technology startups?
Vietnam's technology startup ecosystem is booming thanks to the convergence of venture capital (VC) flows, supportive policies from the government and abundant technology human resources.
It is no coincidence that Vietnam has become a bright spot on the Southeast Asia technology map. There are very clear drivers driving this development.
Where is venture capital capital flowing?
The current trend of investing in Vietnamese technology startups focuses on late capital calls (Series B, C) with more rigor on sustainability and actual profits.
According to data from VinVentures, total venture capital investment in 2025 will reach about 215 million USD. Although the number of deals decreased, capital flows focused on the top 10 businesses (accounting for 72% of total capital). Investment funds for Vietnamese technology startups now prioritize business models with clear profitability instead of the strategy of "burning money" to gain market share.
Support policy from the government: "Launching pad" for big ideas
Policies to support Vietnamese technology startups are being specified by Decree 264/2025/ND-CP on the National Venture Capital Fund, creating a solid legal corridor.
The government is making drastic moves to promote innovation. Promulgating regulations on venture capital funds helps unlock capital sources from the public and private sectors. Besides, City. Hanoi has also just approved a business support project for the period 2026 - 2030, aiming to train thousands of CEOs and sponsor digital transformation costs. This is a very practical start-up support policy.
Young, technology-savvy human resources - An advantage that cannot be ignored
Young technology human resources, sensitive to the 4.0 Industrial Revolution, are the biggest motivation to help Vietnamese startups confidently compete globally.
Young Vietnamese people approach technology trends very quickly. From Big Data, Microchips and semiconductors to complex automation systems, Vietnamese engineers can grasp them all well. For example, in the smart manufacturing segment, the application of Digital Twin in industry is being strongly deployed by many domestic engineering teams. This helps minimize human resource challenges when scaling up.
Insider perspective: What challenges and opportunities lie ahead?
Challenges and opportunities for Vietnamese technology startups always go together; "funding winter" requires founders to optimize their business model instead of just blindly expanding.
Starting a startup has never been easy. Although the outside is flashy, inside is an invisible trade-off and pressure.
The eternal problem: Competing and raising capital during the economic "winter" period
Current funding challenges force startups to demonstrate positive cash flow and clear technology commercialization ability to convince investors.
The market is going through a period of harsh purification. Raising capital is no longer as easy as it was in 2021. Founders face pressure to maintain a long enough financial runway. Without a pragmatic business model and reasonable market expansion plan, startups can easily run out of resources before reaching the break-even point.
What are the "gold mine" fields for startups in the future? (AI, Blockchain, Green Technology)
Potential technology fields for Vietnamese startups in the near future will certainly revolve around AI, Blockchain, Healthtech and Green Technology (ClimateTech).
AI continues to be the hottest keyword. Integrating AI into user devices is opening up many new opportunities. You can learn more about Edge AI processing AI at the edge to see the potential of this niche. Besides, blockchain technology is also entering the stage of practical application. If you are not clear on how this platform works, understanding What is Blockchain explained simply for newbies will help you have a more comprehensive view.
In particular, capital flows are pouring heavily into ClimateTech (such as the CME Solar project calling for capital in 2025). This trend is in line with the government's Net Zero commitment. To grasp the overall picture of sustainable development, read the article Green Tech sustainable green technology. In general, to have the right positioning strategy, founders should regularly update Technology trends 2026 predictions and analysis.
Advice from personal experience: How does a technology startup go the long way?
From consulting experience at Pham Hai, I realize that the key to going long distance is to focus on solving the actual pain of the market and maintaining financial discipline.
Don't blindly follow a trend if it doesn't bring real value to users. A successful Vietnamese technology startup is when they know how to balance growth and core profits. Build a flexible corporate culture, ready to adapt to unpredictable fluctuations in the digital economy.
Clearly, the path for prominent Vietnamese technology startups is not only paved with roses but also full of thorns. However, with the strong rise of names like MoMo, VNPay, MindX or Coolmate, I firmly believe that this is just the starting line. The spirit of innovation, combined with an increasingly perfect ecosystem, will certainly create many new unicorns, bringing the country's digital economy further on the world map.
What about you, which technology startup impresses you the most? Please share your views and opinions in the comments section below!
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