Vietnam’s peer-to-peer shopping and delivery platform gets South Korea license
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Vietnamese peer-to-peer delivery service XTayPro has been licensed in South Korea and expects this to be a stepping stone into East Asia. The app is a platform connecting people travelling by air with those who wish to buy or send products overseas.
It creates a community of travelers who can make a little extra cash by buying and carrying stuff for others.
Less than four months ago XTayPro had participated in the K-Startup Grand Challenge, a start-up accelerator program supported by the South Korean government.
It has since signed 10 memoranda of understanding and letters of intent with funds and technology investment companies in South Korea.
The K-Startup Grand Challenge has been held annually since 2016 to help start-ups grow and expand into Asian markets. It has so far supported 40 startups and solicited $26 million for them.
At this year’s event Vietnam had 8 representatives who overcame 1,700 other start-ups from 100 countries to join a group of 80 in the 4-month Acceleration Program.
Questions & Answers
Q.What exactly does XTayPro do?
What exactly does XTayPro do?
XTayPro is an app that connects air travellers with people who want to buy or send items internationally. Travellers can earn money by carrying goods for others, creating a peer-to-peer delivery community.
Q.How did XTayPro manage to get licensed in South Korea so quickly?
How did XTayPro manage to get licensed in South Korea so quickly?
XTayPro participated in the K-Startup Grand Challenge, a South Korean government-backed accelerator program. This program helps start-ups expand into Asian markets and likely facilitated their licensing process and local connections.
Q.What financial backing or partnerships has XTayPro secured in South Korea?
What financial backing or partnerships has XTayPro secured in South Korea?
XTayPro has signed 10 memoranda of understanding and letters of intent since participating in the accelerator. These agreements are with various funds and technology investment companies within South Korea.
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