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Vietnam's fintech VNLife says valuation now 'well over $1bn'

Payments system provider raises $250 million in deal led by US investors

Vietnam's VNLife offers software for banks that want to provide mobile payment apps and other digital services. (Photo courtesy of VNLife) 

TOKYO -- Vietnamese payments provider VNLife on Friday said it has raised $250 million from investors, including U.S.-based General Atlantic and Dragoneer Investment Group, highlighting global interest in the country's fintech industry.

PayPal Ventures, the venture capital arm of U.S. payments company PayPal, and Singapore's EDBI participated in the funding round, along with existing investors GIC and SoftBank Group's Vision Fund.

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