NextPay – Vietnam’s Newest Endeavor Entrepreneur
NextPay was selected into the Endeavor network at the Ninth Virtual International Selection Panel (VISP) held November 23-24, 2020. Congratulation to Co-founder & CEO Nguyen Huu Tuat!
Endeavor selected two entrepreneurs leading two companies, NextPay and ShopFully, at the Ninth Virtual International Selection Panel (VISP) held November 23-24, 2020. Endeavor now supports 2,109 entrepreneurs leading 1,319 companies in 37 markets around the world (read more about the newly selected entrepreneurs below).
The Virtual ISP was presented by General Atlantic, with additional support from AXA, Bain, Cooley, EY, HSBC, Silicon Valley Bank, and Zoom.
The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off.
During the ninth VISP, scaled down this edition, six panelists utilized Zoom breakout rooms to interview a small group of high-caliber entrepreneur candidates leading four companies about their businesses. In “deliberation rooms” — private Zoom meetings with only Endeavor staff and panelists — panelists evaluated the entrepreneurs on their potential for high-impact growth, discussed which candidates should be selected to become Endeavor Entrepreneurs, then voted unanimously to select the newest Endeavor Entrepreneurs, Tuat “Max” Nguyen, founder and CEO of NextPay (Vietnam), and Stefano Portu, founder and CEO of ShopFully (Italy). Learn more about NextPay and ShopFully below.
Panelists at the ISP included: Fabio Cannavale, Founder & Chairman, Lastminute.com (Endeavor Italy Board Member); Guillaume Pousaz, CEO and Founder, Checkout.com (Endeavor Entrepreneur); Jose Stella, Co-CEO & Founder, QMC Telecom (Board Chair of Endeavor Puerto Rico); Melissa Guzy, Co-Founder and Managing Partner, Arbor Ventures; Peter Njonjo, Co-Founder & CEO, Twiga Foods (Endeavor Entrepreneur; Endeavor Kenya Board Member); and Susan Saideman, Independent Board Member.
As part of Endeavor’s network, Nguyen and Porto will gain access to comprehensive, strategic, global support services, including introductions to local and international business mentors, investors, and volunteers from Fortune 500 consulting firms who will help them address key needs.
Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 4.1M+ jobs, generated $26.8 billion in revenues in 2019, and help build sustainable growth models in their home countries.
NextPay is the leading non-bank merchant acquirer in Vietnam, providing payment, financial and management services to merchants and SMEs. With a suite of services, including payment processing, mobile POS hardware sales, a mobile wallet, installment loans and various agency and white-labeled software solutions (HRM, accounting software, bill collection, customer payout etc.), NextPay is aiming to support the 3M SMEs in Vietnam today. By capturing important transaction and operational data, NextPay is able to make working capital loans to merchants in need of financing. NextPay currently provides services for 60K SMEs and is on track to do $2.5B in GTV in 2020.