Startup serving cross-border shopping is funded
Dutycast is a company that creates a browser or tool that makes it easy for consumers to shop across borders.
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Dutycast team.
According to TechinAsia, VinaCapital Ventures - a branch of investment fund VinaCapital Group Vietnam - has acquired shares of Dutycast. The financial details of this transaction were not disclosed by either party.
Dutycast said it will use the new capital to expand operations in Vietnam and test products in some markets in Southeast Asia and the EU.
In some countries, cross-border purchases are often quite complicated due to the involvement of exchange rates, customs duties, transportation, and logistics. That makes shopping extremely expensive for consumers. “Anyone living in Vietnam or other countries knows how difficult it is to order from overseas-based online retailers,” said Hoang Duc Trung, partner at VinaCapital Ventures.
Dutycast was founded by Thomas Dang, Hoa Nguyen, Son Doan and Dat Tran in 2020 to solve these problems by providing customers with a secure and transparent platform. Consumers can shop from many stores in many countries around the world and pay in the local currency of that country.
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