Investment advisory company, Stanfield Funds Management's (ASX:SFN) initial $300,000 investment in mobile commerce company Sprooki could pay off as the latter has appointed a reseller of Sprooki's mobile engagement platform in Vietnam.
Stanfield inked an agreement to acquire 100% of the Singapore based B2B Sprooki in July 2015.
Sprooki is entering agreements with retail brands and large shopping malls in Asia, providing them with a means to gain more customers through its location based mobile engagement platform.
Sprooki said it has attracted 3,500 retail stores across 70 mall locations in Asia since inception in 2013.
Retail & Franchise Asia will resell Sprooki's offering in Vietnam on a non exclusive basis.
RFA clients in Vietnam include Gloria Jean’s Coffee International, BreadTalk and Carl’s Jr.
According to Vietnam E-Commerce and Information Technology, revenue generated by e-commerce is tipped to grow from $700 million in 2012 to $4 billion in 2015.
More than a third of the population of Vietnam are now using smartphones and mobile assisted transactions are growing at an strong clip having doubled between 2013 and 2014, from 6% to 13%.
