Vietnam's coworking space startup Toong raises 7-digit funding: reports

Thanh Nien News

Email Print


 A picture on Toong’s website shows a 1000 square meter coworking space overlooking Hanoi’s West Lake. The new outlet at 98 To Ngoc Van Street is available for Toong’s clients to visit and use for free until March 11, 2016.
Toong, a seven-month-old startup that runs Vietnam's first coworking space chain, has secured a round of seven-digit funding from a group of local investors, according to media reports. 
Details of the deal have not been revealed, but the company was quoted as saying that their backers have long operated in the sectors of investment, retail and services.
Local news website Dau Tu said the backing is worth more than US$1 million, but some other reports suggested it can be a multi-million deal.
Linh Vu, marketing manager at Toong, told Singaporean news website e27 that the new funding will allow it to reinforce facilities and services at its two existing outlets, both in Hanoi, and open a new one in Ho Chi Minh City this year.
In December last year Toong reportedly raised US$300,000 from unnamed angel investors.
The company provides space and different services for other startups, freelancers and tourists at the starting price of VND90,000, or nearly $4, for three hours.

More Business News