August 16, 2018
Daiwa PI Partners Co. Ltd.
Attention
This is an unofficial translation of an excerpt of the press release issued on August 16, 2018,
Daiwa PI Partners Co. Ltd.. The original press release is in Japanese.
Daiwa PI to Invest in Sen Do Technology Joint Stock Company in Vietnam
Daiwa PI Partners Co. Ltd. (President: Hideki Araki, Headquarters: Gran Tokyo North
Tower 1-9-1, Marunouchi, Chiyoda-ku, Tokyo/”DPI”), a subsidiary of Daiwa Securities Group Inc.,agreed to subscribe for newly issued shares of Sen Do Technology Joint Stock Company(Chairman: Mr. Nguyen Dac Viet Dung, Headquarters: 2nd Floor, Fpt Building, Street 8,TanThuan EPZ, District 7 , Ho Chi Minh City, Vietnam/”Sendo”) for a price equivalent to US$ 8 million(paid in Vietnamese Dong) by way of private placement in Sendo’s Series B financing round.
Sendo has started a C2C-model marketplace in Vietnam from 2012 as a part of businessdivision of FPT Online Service Joint Stock Company (FPT Online), an entity within the FPT Group
which is a major IT giant in Vietnam. In 2014, Sendo was spun off from FPT Online and has
rapidly grown as the largest C2C marketplace in Vietnam in terms of gross merchandise value(GMV) with providing its services to wide range of small and medium sized retailers andconsumers throughout the country. Currently Sendo has over 300,000 selling retailers with morethan 10 million goods (SKU) on its platform. Its annualized GMV based on December 2017 result
has reached to US$ 330 million (equivalent to approx. JPY 37 billion). Sendo has, since its earlydays, established nation-wide delivery network by partnering with major logistics companies inVietnam. Though cash-on-delivery is still preferred mode of payment in Vietnam, Sendo has
already introduced e-payment mode through “SenPay” which holds e-Wallet License since 2015
in line with the expansion of mobile and internet penetration in Vietnam.
Vietnam has over 93 million population and increase of middle-income class and theirlife-style change has stimulated retail consumption over the years with approximately 10% growthp.a. E-commerce , particularly, has rapidly growing due to the high penetration rate of personalcomputers and smartphones in Vietnam. Sendo has successfully diversified its products list fromfashion and apparel focused to electric appliances and digital items and its GMV has been
increased rapidly. It is expected that the Sendo's marketplace will become more and moreconvenient platform for users through further increase of SKU. The funds raised through thisfinancing round will be utilized for further expansion of their marketplace business.
The Series B financing will allow Sendo to secure funds equivalent to US$ 51 million intotal. There are three (3) new investors in this round, namely SoftBank Ventures Korea, SKS
Ventures, and DPI, in addition to the existing investors, SBI Holdings, econtext ASIA, BEENOS,BEENEXT and the FPT group. DPI will provide not only the capital for growth but also advices
and guidance with respect to corporate finance, governance and business development toSendo’s management. DPI is also pleased to contribute to the growth of the EC market andenhancement of consumers convenience in Vietnam through this investment.

1. Summary of Series B round Investment
Company nameSen Do Technology Joint Stock Company

Investor

Daiwa PI Partners Co. Ltd

Investment amountVietnamese dong equivalent to US $ 8.0 million

Completion dateAugust 15, 2018

2. Summary of Sendo
Establishment date

May 13, 2014

Address

2nd Floor, Fpt Building, Street 8,Tan Thuan EPZ, District 7 , Ho Chi
Minh City, Vietnam

Business description

Marketplace in Vietnam

Web address

https://www.sendo.vn/