Vietnam’s FidoVN looks to raise up to $20m to expand AI- and VR-powered superapp ecosystem

Vietnamese startup FidoVN, which aims to become the country’s next-generation lifestyle superapp, is looking to raise $10-20 million in a Series A funding round to power its next phase of growth.

Launched by a private family fund based in Singapore, FidoVN’s founding team comprises seasoned professionals from leading Chinese internet companies such as Tencent, Beike, Lagou, Liepin, and Ganji, all of whom bring with them extensive entrepreneurial experience.

The startup is developing the first integrated platform in Vietnam that combines AI-driven recruitment matching (similar to Zhipin.com), property transactions (like Beike.com), and home services (akin to 58.com). By bringing these three verticals into a single superapp, FidoVN is targeting a $10 billion market—one that remains fragmented and lacks a dominant player.

The company plans to deploy the Series A funds strategically: 50% toward technology development, including AI and VR capabilities, 30% for geographic expansion, beyond Ho Chi Minh City, to Hanoi and Da Nang; and 20% for building strategic partnerships with telecommunications and retail companies.

FidoVN is actively looking for both strategic and financial backers, willing to take a 10-15% overall stake in the company.

On the strategic side, the startup seeks to partner with property tech-focused funds and Southeast Asia-centric corporates that can provide synergistic value and regional expertise.

Financially, it is targeting venture capital firms with a focus on emerging markets and strong local networks, which will be crucial for sustained market penetration and execution at scale. The company is focusing on going public by 2027, either on the Vietnamese stock exchange or by tapping the SPAC route.

With strong early traction, expanding revenue streams, and a differentiated tech stack, FidoVN is well-positioned to capitalise on this opportunity.

An integrated lifestyle platform for Vietnam

Despite Vietnam’s rapidly digitising economy, online penetration of recruitment and property transactions remains below 10%—a surprisingly low figure for a country with over 70 million working-age individuals. FidoVN sees this gap as a significant opportunity and is positioning itself as the platform to bridge it at scale.

To address the shortfall in digital adoption, FidoVN is building an integrated lifestyle platform that consolidates three high-frequency consumer needs: job matching, property transactions, and home services, into a single superapp.

The platform’s next-gen technology architecture leverages AI for precise matching (whether between resumes and roles or renters and homes), and VR tools that allow users to tour properties or conduct job interviews remotely.

FidoVN’s proprietary tech further strengthens its market position. Its AI Matching Engine delivers 95% resume-to-job accuracy, outperforming the industry standard of 80%. It also features dynamic pricing for home services, like surge pricing during monsoon-season repair spikes, and VR capabilities developed in partnership with China’s RealSee VR and the US-based Matterport, enabling 10-minute 3D home scans. Meanwhile, virtual interviews help companies cut hiring costs by up to 60%, demonstrating clear B2B value.

This approach is already showing results. The app records an average session time of 8.7 minutes, far surpassing the industry average of 3.1 minutes, early evidence of both user engagement and platform stickiness. With proprietary AI matching and advanced VR technology, FidoVN delivers a seamless experience that lets users search, explore, and transact across essential services all in one app.

Positive traction, strong monetisation

As Vietnam’s digital economy rapidly matures, FidoVN is seizing the opportunity in a largely offline market through its integrated, tech-enabled offering. This approach is translating not only into accelerating user growth but also into strong, recurring revenue streams.

In Q2 2025, the company reported Gross Merchandise Value (GMV) of $1million, up 30% from the previous quarter—a clear sign of user trust.

Moreover, monthly active users surpassed 50,000 in the period, marking a 300% quarter-over-quarter increase. More importantly, 62% of users return to transact again, nearly double the industry benchmark of 35%, highlighting high platform stickiness.

Notably, 45% of job seekers also use FidoVN’s rental features, underscoring the value of a cross-vertical user experience.

Monetisation is strategically diversified across three verticals. In recruitment, FidoVN charges approximately $2.99 per job listing. The property segment contributes a 1.5% commission per transaction, twice the local market average, along with additional revenue from VR-based property scans. Its home services offering (O2O) generates revenue via a 15% commission on completed tasks, including cleaning, appliance repair, and maintenance.

The company’s user lifetime value (LTV) now stands at $120, significantly above the $45 average seen on comparable platforms, pointing to efficient monetisation per user.

Together, these revenue lines reflect a scalable model that monetises high-frequency, high-need interactions, with pricing power already evident, particularly in the property vertical. FidoVN’s ecosystem is not only attracting users but successfully converting engagement into meaningful, diversified revenue.

With Vietnam’s digital economy projected to grow significantly in 2025, FidoVN believes it holds a meaningful first-mover advantage in unifying essential services into one tech-driven ecosystem. Backed by proprietary technology, early traction, and a proven superapp model, the company is now on track to capture long-term market leadership.

“FidoVN is doing for Vietnam what Meituan did for China, only we’re building it with next-gen AI/VR,” said Jason Shen, CEO of FidoVN.