Budget airline Vietjet has invested VND31.5 billion ($1.36 million) to acquire a 67 percent stake in shipping startup Swift247 which seeks to improve the linkage between air and road delivery.
The company, co-founded by Tommy Nguyen, son of Vietjet CEO Nguyen Thi Phuong Thao, has a charter capital of VND47 billion. Its CEO, Ha Nang Viet, owns 26 percent of the company.
The Ho Chi Minh City-based company, founded in 2019, delivers products between Southeast Asian destinations within 24 hours by combining air and road transport. Other delivery services take days.
It offers a delivery time of as low as five hours between Hanoi and HCMC.
The company also has a tie-up with ride-hailing company Grab.