Urban migrant entrepreneur capital in Vietnam

Urban migrant entrepreneur capital in Vietnam

Round 3 Vietnam ICT/Financial Inclusion Active

52%

48%

Partner contribution

$ 483,019

DFAT contribution

$ 455,084

Icon Total Funds

Total Value

$ 938,103


Start: June 2019 - End: June 2021

Partners

CARE

CARE is a non-profit international development organization dedicated to ending poverty and achieving social justice.

Jup Viec

JupViec is a market leading technology-based job matching service that easily and quickly connects workers and customers via a mobile app and website.

Lien Viet Post Bank

Lien Viet Post Bank is the largest commercial bank in terms of network in Vietnam. The bank’s vision is to become a leading retail and universal bank that services the mass market.

About this partnership

This partnership brings together technology start-up JupViec, Lien Viet Post Bank, CARE and the Australian Department of Foreign Affairs and Trade (DFAT) to increase wellbeing of urban migrants by providing access to formal financial services and jobs. The partners are collaborating on the Urban Migrant Entrepreneur Capital (U-ME Capital) initiative, which will create an integrated mobile app to provide migrants with access to dignified income-earning opportunities and a range of formal financial services. The app will include options for daily salary payment, remittances, micro-loans, online savings, mobile and utility bill payments.

The U-ME Capital partnership will create a sustainable and scalable business model by building the customer base and increasing market penetration for both Jupviec and Lien Viet Post Bank. For low-income migrants, the partnership will increase access to formal financial services and provide opportunities for dignified work. The partnership will support the private sector partners to improve gender policies and practices.

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