Genesia Ventures Co., Ltd.
Invested in Rootopia, a P2P educational loan platform for students in Vietnam
Genesia Ventures Co., Ltd. (Representative Director: Soichi Tajima, Headquarters: Minato-ku, Tokyo) is a P2P education loan platform for students in Vietnam from Genesia Venture Fund No. 3 (hereinafter referred to as GV-3) “Rootopia”. We are pleased to announce that we have invested in the pre-seed round of ROOT HOLDING SG PTE. LTD. [Image 1
[About Rootopia]
Rootopia provides education opportunities for young people in Vietnam by providing an online platform for peer-to-peer (P2P) education loans at affordable interest rates for families without adequate access to education.
It has been in operation for more than a year so far, and has supported the continuation of learning for more than 400 students at more than 100 schools and centers in more than 10 provinces and cities nationwide. Through the support of individual supporters (angel investors) who actually register with Rootopia, many children are achieving great results in their studies and improving their life and learning efforts.
https://student.rootopia.vn/
[Problems and solutions to be solved]
– Challenges and Opportunities –
▼ Stakeholder 1 Parents and students
・Increase in tuition fees: Schools continue to raise tuition fees at an annual rate of 7-10% due to the government’s policy that “schools should be financially responsible for themselves.”
・High fees: Educational loans have high interest rates and include many fees (interest rates for consumer finance are 30% to 90% annually, and there are insurance premiums hidden in the displayed interest rates).
・Examination and flow: Examination of an education loan requires a complicated application flow with documents such as submitting an income certificate, and it takes at least a week.
Also, limited education loan options limit the opportunities for Vietnamese students to get an education.
▼ Stakeholder 2 School
Limited student loan options have led to lower enrollment rates, even in schools with high student interest.
-Rootopia’s Solution-
Rootopia is a 100% online P2P education loan solution for students and parents. Enrolling individual backers (Angel Investors) can also sponsor students 100% online.
We help pay off education loans quickly, intuitively and
transparently. We conduct matching after rigorously conducting due diligence so that funds are appropriately subsidized and invested in students with the right objectives. Rootopia’s platform allows students and parents to complete enrollment for education loan procurement quickly and efficiently by our professional team. This can be considered the safest and friendliest solution on the market today, with an affordable interest rate of 0.9% per month. After receiving the education loan, parents can repay it in monthly installments, which contributes to reducing the cash flow burden of the family. [Image 2
[Market outlook]
According to TTC Edu statistics, Vietnamese households spend up to 47% of their household income on their children’s education. Education spending in 2021 is estimated to be $13.5 billion, with an annual growth rate of about 10%.
On the other hand, the average rate of increase in tuition fees is 7% to 10% per year, which is said to be higher than the rate of increase in income. The government policy (Decree 43/2006/ND-CP) promotes “financially independent schools”, and the upper limit of tuition increases for the 2022-2023 academic year is preschool education, public general education, and high school education. is set at about 7.5% per annum, and 12.5% for university education. Schools have to raise tuition fees, whether they like it or not. In particular, fully self-governing schools, which are not covered by the national budget, are forced to raise tuition fees in order to secure sufficient operating funds and cover price fluctuations and investment costs. Rising tuition costs squeeze household disposable income and limit student options and opportunities. Therefore, the demand for affordable and convenient educational loan platforms for parents and students is expected to grow.
[About investment]
Genesia Ventures Associate Huang Thi Kim Sun
The other day, as I was flipping through dozens of pages of
complicated investment contracts in the middle of the night, my mother said, “(Seeing you put your heart and soul into the wonderful work you do), I was very moved. I’m sure life wasn’t easy, but our family will continue to work hard for your success.” My family was never wealthy, and I know that my parents struggled to pay for my education. But my family let me go to college. When I was in college, I wanted to study abroad, but my parents didn’t have the financial means to do so. Luckily, I was able to receive a scholarship from the Japanese government to cover my tuition and living expenses for five years. Looking back, my 10+ year learning journey has been supported by my parents, my family, the surrounding community and my country. I have always believed strongly that a good education can change lives, families, communities and the country more I believe that it is necessary to extend a helping hand for each individual’s education. Now that I have returned from Japan to Vietnam, with that belief and gratitude, I would like to join hands with Rootopia to support the learning path of Vietnamese youth and contribute to the future of education in Vietnam. increase. This is why we invested in Rootopia as the lead investor in this pre-seed round. And we are determined to work together with the Rootopia team to overcome all difficulties, develop sustainably, and bring the most positive value to the learning journey of young people in Vietnam.
https://www.zunzunstartups.com/post/ly-do-dau-tu-rootopia-mong-muon-manh-me-chap-canh-uoc-mo-hoc-duong-tai-viet-nam 【Company Profile】
Rootopia
Company name: ROOT HOLDING SG PTE. LTD.
WEB: https://student.rootopia.vn/
Date of establishment: August 6, 2021
Location: 68 Circular Road #02-01 Singapore
Representative: Co-Founder & CEO Nguyen Xuan Truong
Genesia Ventures
Company name: Genesia Ventures Co., Ltd.
WEB: https://genesiaventures.com/
Established: August 2016
Head office: 3-3-13 Kita-Aoyama, Minato-ku, Tokyo Kyowa Gobankan 2F Office: Jakarta) WeWork Revenue Tower, Scbd, Jl Jend.Sudirman No.52-53, Senayan, Kebayoran Baru Jakarta City, JK, 12190, Indonesia ：Ho Chi Minh) SENoffice Business Center,L18-11-13,18th Floor, Vincom Center Dong Khoi Tower,72 Le Thanh Ton, Ben Nghe Ward,District 1,Ho Chi Minh City,Vietnam
Representative: Soichi Tajima, Representative Director/General Partner Business description: Venture capital business
Details about this release:
https://prtimes.jp/main/html/rd/p/000000078.000056091.html
MAIL:cr@prtimes.co.jp