VNLIFE Valuation, Funding & Investors
VNLIFE is valued at $1B as of July 2021.
Last VNLIFE valuation
$1B
Series B · Jul 2021
Last VNLIFE funding round
$250M
Series B · Jul 2021
Cumulative funding VNLIFE raised
$550M
across 2 funding rounds
Key investors in VNLIFE
SoftBank Group
GIC
General Atlantic
Dragoneer
EDBI
About VNLIFE
VNLIFE is a Ho Chi Minh City-headquartered technology firm building digital platforms for Vietnam's tourism, logistics, and e-commerce industries. It offers payment gateways, booking systems, and service aggregation tools tailored for consumers and small businesses. VNLIFE provides startups with technical infrastructure, API integrations, and marketplace access to expand domestically and internationally.
Founded
2007
HQ
HanoiWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$1B (Jul 2021)
VNLIFE Valuation
VNLIFE is currently valued at $1B, based on its Series B in July 2021.
The $250M round was led by Dragoneer and General Atlantic, with participation from SoftBank Group, GIC and EDBI.
VNLIFE valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2021 | Series B | $1B |
VNLIFE Funding History
VNLIFE has raised a total of $550M across 2 funding rounds.
VNLIFE's first fundraising round was a $300M Series A in July 2019. The most recent completed round was a $250M Series B in July 2021.
VNLIFE funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series B | Dragoneer (lead); General Atlantic (lead); SoftBank Group; GIC; EDBI | $250M | $1B | VNLIFE Corporation Joint Stock Company, a leading Vietnamese technology firm founded in 2007, is pioneering Vietnam's digital ecosystem through subsidiaries like VNPAY for digital payments and banking solutions, TEKO for retail digitization, and platforms spanning online payments, travel, supply chain optimization, and virtual investing. VNPAY serves over 40 banks in Vietnam and operates VNPAY-QR, the country's largest cashless payment network with 22 million users and 150,000 merchants as of mid-2021. The company operates in Vietnam, Singapore, Myanmar, and Cambodia, focusing on digital banking, payments, and commerce amid Vietnam's rapid economic digitization. On July 30, 2021, VNLIFE announced a Series B funding round exceeding $250 million, led by General Atlantic and Dragoneer Investment Group, with new participation from PayPal Ventures and EDBI, alongside existing investors GIC and SoftBank Vision Fund 1. The capital aims to accelerate platform development, technology innovation, and merchant enablement to capitalize on Vietnam's growing digital consumer base and support long-term economic growth through mission-critical digital infrastructure. Investors highlighted VNLIFE's market leadership in banking, payments, and commerce verticals. |
| Jul 2019 | Series A | GIC (lead); SoftBank Group (lead) | $300M | - | VNLife is a Vietnamese technology company founded in 2007, operating a diverse digital ecosystem across Vietnam, Singapore, Myanmar, and Cambodia, with its flagship subsidiary VNPay providing digital payment services including QR code payments, e-wallets, bill payments, and e-commerce platforms. VNPay partners with over 40 banks, five telecoms, and 20,000 businesses, serving more than 35 million customers. The company secured approximately $300 million in funding around 2018-2019 from GIC and SoftBank Vision Fund, followed by a 2021 Series B round of over $250 million led by General Atlantic and Dragoneer, with participation from PayPal Ventures, EDBI, and existing investors GIC and SoftBank Vision Fund 1. In 2025-2026, GIC and SoftBank explored selling their combined ~40% stake in VNLife, potentially valuing the company at $1 billion or more, with a financial advisor approaching buyers including in Korea, though no deal was confirmed. The funds from prior rounds supported expansion of digital infrastructure in payments, banking, commerce, and travel amid Vietnam's digital transformation. |
Who has invested in VNLIFE?
5 investors have backed VNLIFE across its funding rounds, including SoftBank Group, GIC, General Atlantic, Dragoneer and EDBI.
Lead investors include Dragoneer, General Atlantic, GIC and SoftBank Group.
VNLIFE Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Tokyo | 2 | Lead | Jul 2019 | |
 Singapore | 2 | Lead | Jul 2019 | |
 San Francisco, CA | 1 | Lead | Jul 2021 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialVNLIFE Competitors
VNLIFE competitors include listed companies like ZEAL Network, Tsuburaya Fields Holdings, Accel Entertainment and Tokyotokeiba, and private ones like Gamenet and LeafLink.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Germany | Publicly listed | $252M | $79M | $1B | 3.4x | |
| Japan | Publicly listed | $1.1B | $126M | $1.1B | 0.8x | |
| United States | Publicly listed | $1.3B | $184M | $930M | 0.9x | |
| Japan | Publicly listed | $268M | $139M | $830M | 2.9x | |
 Rome | Private | $712M | - | $829M | 1.2x | |
| New York City, NY | Private | $6M | - | $760M | 126.7x |
VNLIFE Public Comps
VNLIFE is still privately-owned, but its public comps include ZEAL Network, Tripadvisor, Tsuburaya Fields Holdings, Accel Entertainment, Web Travel Group, Trainline, Chancemate, Tokyotokeiba, SFC Holdings and Ixigo.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $252M | $79M | 3.9x | 3.4x | 12.3x | 11.6x | |||
| $1.9B | $160M | 0.6x | 0.6x | 6.8x | 4.2x | |||
| $1.1B | $126M | 0.9x | 0.8x | 7.8x | 7.0x | |||
| $1.3B | $184M | 0.9x | 0.9x | 6.8x | 5.6x | |||
| $280M | $86M | 2.7x | 2.6x | 8.8x | 7.0x | |||
| $608M | $221M | 1.9x | 1.9x | 5.3x | 4.8x | |||
| $160M | $19M | 3.7x | 4.3x | 30.9x | 28.1x | |||
| $268M | $139M | 3.0x | 2.9x | 5.7x | 5.5x | |||
This data is available for Pro users. Sign up to see all VNLIFE competitors and their valuation data. Start Free Trial | ||||||||
Common questions about VNLIFE
| When was VNLIFE founded? | VNLIFE was founded in 2007. |
| Where is VNLIFE headquartered? | VNLIFE is headquartered in Hanoi, Vietnam. |
| Is VNLIFE publicly listed? | No, VNLIFE is a private, VC-backed company. |
| What is VNLIFE's valuation? | VNLIFE was last valued at $1B in its Series B in July 2021. |
| How much funding has VNLIFE raised? | VNLIFE has raised $550M across 2 funding rounds. |
| What was VNLIFE's last funding round? | VNLIFE's last funding round was a $250M Series B in July 2021, led by Dragoneer and General Atlantic. |
| Who are VNLIFE's investors? | VNLIFE's investors include SoftBank Group, GIC, Dragoneer, General Atlantic and EDBI. |
| Which companies are comparable to VNLIFE? | Companies comparable to VNLIFE include ZEAL Network, Tsuburaya Fields Holdings, Accel Entertainment, Tokyotokeiba, Gamenet and LeafLink. |
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