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Looking for seed money to begin operations in an untapped market...
Posted by: Sonny Trinh on 6/28/2009 3:03:42 PM
Funding Needed:
$500k - $1mil 		Category:
Business Products & Services 		Website :
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Location :
Vietnam 		Viewed : 235 times
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Description:
We are looking for $800,000 to $1MM in seed money to start operations in September 2009. The company will be based in Vietnam providing electronic payment services such as gift & loyalty cards, mobile payment, private label store cards, ATM & credit cards to established businesses. Although these services have been widely used worldwide, they are new to Vietnam and the country doesn't have any processors that provide these complete services. Therefore, we will be the first company to do so.
This country has always been a cash-only society. However, due to the economic expansion & growth for the past few years, Vietnam needs a world class processing infrastructure that can provide multiple services. The country’s current system is best antiquated & very limited in use. Recognizing this great opportunity, we have assembled a management team that has over 25 years of experience in the payment services to lead the company. Our proprietary processing platform is being built in the U.S. by a company that has extensive experience in the payment services field, and we are in the final stage of testing the software.
We have approximately 80 established businesses that are committed to use the gift & loyalty cards once our software is ready to use. Our conservative P&L projection indicates we will net over $1MM after the first year. The bulk of our revenues come from the monthly fees (typical in the industry). As the volume of merchants grow, so do our revenues. Therefore, our net revenue will increase every year.
We are looking for the seed money to launch & expect to repay the entire amount plus interest in 12 months. We are also open to discuss equity ownership. We have a business plan along with the necessary documents available.
Thank you for reading & your interest.

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