Mizuho Bank of Japan led the latest funding round, followed by Ward Ferry, which specializes in investing and managing long-term funds.
The consortium of investors also included Goodwater Capital LLC and Kora Management which specialize in investing in consumer technology companies, and businesses providing internet and financial services.
M-Service said it will use the capital to strengthen its super-app position by providing financial services to 31 million existing customers, expanding its market by providing digital transformation solutions for millions of micro, small and medium sized enterprises (MSMEs) in Vietnam.