SoBanHang targets SME digitisation with new funding

By Parth Prabhudesai

SoBanHang has raised at least $3.8 million in a pre-Series A funding round to expand its digital services for micro-enterprises across Southeast Asia, strengthening its position in Vietnam’s growing embedded finance and merchant technology market.

The funding round was led by Hong Leong Bank, which invested $2 million, while OSK-SBI Venture Partners contributed $1.5 million. Existing investors FEBE Ventures and Antler also participated. The fundraising process is reportedly still ongoing.

The latest investment comes three years after SoBanHang secured $4 million in seed funding in 2021.

Founded in 2021 by brothers Hai Long Bui and Hai Nam Bui, the platform was developed by Finan to help family-run businesses and micro-merchants digitise daily operations. Through its smartphone-based platform, users can manage sales, customer transactions, inventory, and overall business performance more efficiently.

The funding follows a recent strategic partnership between Shinhan Bank Vietnam and Finan, which introduced Shinhan Store, an integrated platform combining merchant management tools with banking services.

The platform allows small business owners to manage sales, track revenue, issue electronic invoices, open bank accounts, and apply for loans within a single application, addressing key inefficiencies in Vietnam’s fragmented small-business ecosystem.

Vietnam’s micro-business segment remains significantly under-digitised, with many merchants still relying on manual bookkeeping or disconnected digital tools. As a result, banks and FinTech companies are increasingly targeting the sector with embedded financial services aimed at improving operational efficiency and expanding access to formal credit.

The new funding is expected to support SoBanHang’s product development and regional expansion as competition intensifies in Southeast Asia’s digital SME and FinTech landscape.