VNExpress-Feb 15
Two Vietnamese international students in Australia have attracted AU$4.5 million (US$2.82 million) in investment in their credit card payment support app, making their venture one of the fastest-growing startups in the country.
Founded by Tran Thi Thuy Quynh and Nguyen Hieu Trieu Vy, the fintech platform Hello Clever enhances the shopping experience by enabling merchants to receive instant payments from credit card transactions, bypassing the typical two- to three-day bank reconciliation process. Customers benefit from rewards such as discount codes and cashback, introducing a new approach to credit card payments in Australia. In November 2024, Australia Financial Review ranked Hello Clever second on its “Fast Starters List,” recognizing its rapid growth and innovation. Quynh and Vy, both 33, were classmates in the specialized math program at Nguyen Binh Khiem High School for the Gifted in Vinh Long Province in southern Vietnam. After graduating in 2010, Quynh pursued Finance and Accounting at the University of Technology Sydney, while Vy earned a full scholarship to study Information Technology at FPT University in Vietnam. Post-graduation, Quynh worked as an accountant in Australia, and Vy became a software engineer in Vietnam. Through extensive market research, they identified a critical gap in Australia’s payment system: credit card payments often took two to three days to process, affecting merchants’ cash flow. “Instant transactions reduce the risk of cash shortages caused by delayed payments,” Quynh said. “Receiving funds immediately helps businesses manage daily revenue more accurately without relying on third-party financial reports.” For customers, instant cashback serves as an immediate reward. However, securing investment was a challenge. “The first 50 investors rejected us. They didn’t know who we were or why our app mattered,” Quynh recalled. Their perseverance paid off. In August 2022, they successfully raised AU$4.5 million from major venture capital firms like Vectr Fintech Partners and Yolo Investments. Thanks to this breakthrough, Hello Clever has served over 500 small and medium-sized businesses within two years, generating AU$5.5 million in revenue. Read more at: https://e.vnexpress.net/news/news/education/vietnamese-students-in-australia-secure-2-8m-investment-in-instant-credit-card-payment-app-4846937.html
