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Business deals

Vietnam e-commerce leader draws $51m pan-Asian investment

SBI, Daiwa and SoftBank participate in Sendo Technology funding

Sendo Technology's online marketplace has benefited from explosive growth in Vietnam's e-commerce market.

TOKYO -- Japanese financial services group SBI Holdings and other Asian-based companies will invest a total of $51 million in Vietnam's online marketplace Sendo Technology, seeking to tap the country's booming e-commerce market.

The eight investors include Daiwa PI Partners, SoftBank Ventures Korea and Beenos, which operates cross-border e-commerce services in Japan. Investment companies from Hong Kong and elsewhere in Asia also are participating in what will be one of the largest funding rounds for a Vietnamese startup. Their individual investments have not been made public.

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