A Vietnamese ed-tech startup called Topica raised $50m

Vietnamese ed-tech startup, Topico, raised $50m, making it one of the largest funding rounds for a Vietnamese company to date.


November 28, 2018

Topica, one of the seasoned veterans of Vietnam’s burgeoning startup ecosystem, has closed a $50m Series D, making it one of the largest funding rounds for a Vietnamese tech company to date.

Topica was founded a decade ago and claims to have since helped more than 1m adults through its online education platform, as it covers 6 of the largest countries in Southeast Asia.

The digital economy is boomin’ in Southeast Asia

While it still has a long way to grow before filling the shoes of China and India, Southeast Asia’s digital market is certainly hot right now.

Home to a cumulative 650m people, Southeast Asia has 350m internet users across its 6 largest countries (more than the entire US population), and the region’s digital economy is on pace to reach $72B this year, up from $50B last year and $19.1B in 2015.

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And the fun doesn’t stop there

Southeast Asia has recently raised its projections for the size of its internet economy from $200B by 2025 to $240B — triple its current size.

The biggest driver currently? Online travel, which accounts for $30B in revenue, just ahead of e-commerce at $23B.

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In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

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