Vietnamese hotel booking startup Vntrip.vn has secured US$3 million in the first round of funding from Singapore-based private equity firm F&H Fund Management Pte Ltd.
With the funding, Vntrip is now valued at nearly VND300 billion ($13.2 million), according to news website VnExpress.
Le Dac Lam, its founder, was quoted as saying that the money would allow the company to improve and promote its business.
Founded in 2014, the website is a partner of Booking.com and provides booking services at more than 6,000 hotels in Vietnam and nearly 900,000 around the world. Its mobile application is now available.
F&H, founded by John Wu, former chief technology officer of Chinese e-commerce giant Alibaba, mainly invests in Asian startups in their early stages.