Vietnam: M Village, a coliving start-up, has received funding of US$1.7 million led by Singaporean venture fund Simple Tech Investment.
The funds will be used for expanding the number of rooms the startup has in Ho Chi Minh City from the current 300 to 1,000 this year.
Its founder, Nguyen Hai Ninh, is also the founder and ex-CEO of The Coffee House, a HCMC-based coffee chain that has more than 140 stores across Vietnam.
He said: “The fund-raising process started late last year and it has worked out pretty well. Simple Tech Investment agreed on investing after a month of getting to know each other”.
M Village has also received funding from Singapore’s Vulpes Venture, Japan’s Genesia Ventures and some angel investors.
Founded in October 2020, M Village operates five locations in Ho Chi Minh City with occupancy rates exceeding 90 per cent.
