Happynest secures $720,000 seed funding led by Touchstone Partners

Happynest, a Vietnamese home and living community and social-commerce platform, has secured a $720,000 seed funding round led by Touchstone Partners. This investment aims to fuel Happynest's community growth, product expansion, and development of innovative features to strengthen connections within the housing and interior design industry.

"The Happynest model revolves around its platform and dedicated community," said Minh Cao, CEO and Co-founder of Happynest. "We envision leveraging user traffic, engagement, and online behavior insights to develop consumer-focused commercial solutions. The platform's nature allows for seamless product integration without resorting to aggressive sales tactics."

Happynest functions as a one-stop platform for users to find home inspiration, connect with fellow homeowners, discover and hire qualified professionals, and purchase home furnishings, appliances, and decorations. Launched in 2020, it has become a leading platform in the home and living sector, boasting a community of 500,000 to 1 million active monthly users. This community generates content, with over 10,000 articles and 300,000 user-generated pictures showcasing home ideas. As of early 2024, the platform offers over 10,000 products from sellers with deals for users.

Happynest has cultivated a robust social media presence on platforms like Facebook, Youtube, Instagram, Pinterest, and Tiktok. Notably, their Facebook group community exceeds 480,000 members, including homeowners, design enthusiasts, and home improvement professionals across Vietnam. These communities facilitate communication between current and future homeowners with industry professionals, fostering discussions on building, decorating, and maintaining homes.

The platform's engaging community and content attract partnerships with top Vietnamese brands like LG, Panasonic, Bosch, and more. This allows Happynest to provide targeted sales and marketing solutions that connect these brands with their ideal audience within the Happynest community.

"Vietnam's online furniture market is experiencing significant growth," stated Nam Le, Principal of Touchstone Partners. "This is driven by rising internet penetration, increased comfort with digital transactions, and a growing middle class with disposable income. Vietnamese consumers, especially in urban areas, are increasingly turning online to furnish their homes. We believe this is the perfect time to leverage Happynest's unique offerings. We are excited to partner with the founders and their innovative team to support Happynest's continued growth."