Involve Asia, a MarTech platform for partnership marketing in Southeast Asia has expanded to Vietnam, marking its growing footprint in the region. With over 500 paying clients and 400,000 marketing partners registered, Involve has processed over US$1.4 billion have been processed through Involve Asia since its launch, with strong business performance spurred on by an increase in digitalization and mobile penetration in Southeast Asia amongst consumers.
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According to the e-Conomy SEA 2021 report by Google, Temasek and Bain, the e-commerce market in Vietnam is estimated to increase by 32 percent within five years to reach US$39 billion in 2025. In addition, 78.7 percent of internet users have made an online purchase in 2021 based on a study conducted by We Are Social. The accelerated pace of e-commerce adoption has pushed merchants in Vietnam to go digital in order to reach their customers, fuelling a 23 percent increase in digital ad spending in 2021 from the previous year, and is projected to grow 14 percent to US$934 million in 2022.
“Vietnam is an important market for Involve Asia as it is one of the fastest growing economies in Southeast Asia with a vibrant and technologically savvy population. With an e-commerce market in the country that is accelerating rapidly and high social media usage, it presents a ripe opportunity for us to enter the market to help brands in the country reach their customers through our proprietary MarTech solution in a cost efficient manner, and ultimately scale their business through partnerships with influencers, apps and affiliate sites,” shared Jimmy How, CEO and Founder of Involve Asia.
One of the challenges Involve aims to solve in Vietnam is the long payment cycles that marketing partners face when running campaigns on behalf of advertisers, typically between 60 to 90 days. Leveraging on its proprietary risk scoring system, Involve’s platform enables Advertisers to weed out fraudulent activities and to ensure high quality outcomes are paid out quicker. Involve’s express withdrawal capabilities allows marketing partners to receive their money in as quickly as 15 days, which enables partners to manage their cashflows and to scale up their operations.
Jimmy added, “We are looking to grow our partnerships in Vietnam with advertisers, publishers and influencers, and providing our users with the capability to quickly access their earnings is an attractive proposition to them. Furthermore, with the number of consumers in Vietnam adopting digital technology as their preferred mode for shopping or services increasing, many of the region’s leading e-commerce giants, service providers and international brands are looking to forge partnerships with established local names and platforms in the digital space.”
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Since its founding in 2014, Involve Asia has been working closely with e-commerce, travel and financial services brands to manage their digital marketing campaigns on the open web across Southeast Asia. Headquartered in Kuala Lumpur, Malaysia, Involve Asia has presence in six countries in Southeast Asia, counts global venture capitalist firm 500 Startups, Accord Ventures, OSK Ventures International, GDP Venture, CAC Capital and Cradle Seed Ventures as their investors.