Dutycast, the maker of a browser plugin that makes it simple for customers to shop online throughout the world, has received an unknown amount of investment from VinaCapital Ventures in Vietnam.
It’s unclear how Dutycast will put the money to good use. We’ve reached out to the startup for further information, and we’ll update this article as soon as we hear back.
Dutycast, founded by four Vietnamese in 2020, promises to improve customers’ cross-border e-commerce experiences by offering transparency and security surrounding final pricing, duties, taxes, and related logistical costs.
Customers may expect “no hidden costs or unexpected charges,” according to the company’s website.
Users may shop and place goods from numerous retailers in one Dutycast cart, checkout once, and pay in local currency using a credit/debit card, bank transfer, or cash on delivery after installing the Dutycast extension to their browser (COD).
“Anyone living here or in other countries knows how difficult and sometimes frustrating it can be to order from online retailers based overseas. Dutycast provides a straightforward solution to that,” said Trung Hoang, partner at VinaCapital Ventures.
He believes that the Dutycast system can be scaled beyond Vietnam, and he stated that the VC will help Dutycast achieve this goal.
Customers may purchase from Amazon, iHerb, Sephora, ASOS, and Ulta Beauty with the help of Dutycast. With the likes of Victoria’s Secret, Nike, and Bath&Body Works, the business claims to be extending its worldwide partner network to over 1,000 retailers.
According to research issued by the Ministry of Industry and Commerce’s Vietnam E-commerce and Digital Economy Agency, the country’s e-commerce industry reached US$11.8 billion in 2020, accounting for 5.5 percent of total retail sales.
Vietnam’s e-commerce sales are expected to rise from an anticipated US$12 billion in 2021 to US$56 billion in 2026, according to Facebook and Bain & Company’s annual Southeast Asia study.
This expansion is fueled by the country’s growing middle class and a youthful and digitally aware populace.
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