While Vietnam’s e-wallet providers are burning money, the Philippines have shown that telcos can be successful contenders in the space.

The Vietnam Global Innovation program, powered by Quest Ventures, provides knowledge and valuable connections to Singaporean startups looking to expand into Vietnam.

The investment marks Jungle Ventures’ first foray into the mobility sector, a vast emerging market in Southeast Asia that awaits the maturity of battery-charging infrastructure.

Unfazed by the competition, Bhasin said the company’s auto sector is the most-visited auto classifieds platform in the region.

Vietnamese conglomerate says it could make EV batteries with iPhone assembler.

Currently, the firm runs a fleet of more than 70,000 drivers and 200,000 merchants, serving 2 million customers across five major cities in Vietnam.