Six companies in Australia have earned spots on the 2024 Forbes Asia 100 to Watch list, including Hello Clever, a fintech startup founded and operated by two young people from Vinh Long Province in southern Vietnam.

Nguyen Hieu Trieu Vy, who goes by the name Gavin, and Tran Thi Thuy Quynh, who goes by Caroline, both 32 years old, co-founded Hello Clever in 2020.

Gavin, who is responsible for the company’s technology, said that the original goal of Hello Clever, which was launched in 2020, was to create an app to help young people manage their personal finances. 

However, its first product did not gain much traction, and it was not until 2022 that the startup hit it big.

Previously, credit card payments in Australia required several hours or even days for settlement, and the funds would only return to the merchant’s account once everything was processed. 

In 2018, Australia implemented the New Payments Platform, which allowed transactions to be processed in real time. Then, PayTo was introduced on the New Payments Platform in July 2022, further simplifying instant payments.

In that very month, Hello Clever became one of the first fintech platforms to connect with PayTo.

According to an expert from the Reserve Bank of Australia, any fintech wishing to connect with PayTo must ensure their technology meets the strict standards set by New Payments Platform and PayTo. 

They must also hold financial licenses in Australia and comply with the regulations set by the Australian Securities Investments Commission and the Reserve Bank of Australia.

According to Gavin, the company’s technology is not vastly different from its competitors. 

“The difference might just be that our team is more passionate. Most of our tech team is from Vietnam, and they’re always ready to work day and night. [Their passion] is an interesting characteristic of Vietnamese entrepreneurs,” said Gavin.

A global team

However, partnering early on with PayTo was not a guaranteed success. 

According to Caroline, Hello Clever chose to develop a cashback feature. When users make payments through Hello Clever, they receive cashback from merchants. This allows customers to save big while shopping.  

Merchants also benefit because they receive payments instantly instead of waiting for days, helping them optimize cash flow. The cashback promotions also help boost sales. 

AI applications integrated by Hello Clever help merchants analyze consumer trends and suggest the most effective ways to run their promotions and set cashback rates.

Hello Clever currently has more than 100,000 customers in Australia and about 400 partner brands. 

In 2022, the company raised AU$4.5 million (US$2.8 million). At the end of 2024, the startup secured an additional AU$5 million ($3.1 million) in funding, raising its total valuation to approximately AU$10 million ($6.2 million).

The company has around 40 employees across six countries. The tech team is based in Vietnam, with talented young professionals confident in their ability to compete with other startups in the same field. 

Meanwhile, the sales and marketing teams are based in Australia, while other staff are in Finland, Singapore, Malaysia, and Japan. The teams in Singapore and Japan are focusing on the company's planned expansion in 2025.

Bart Jeung, partnerships manager at Choco Up, a global revenue-based financing and growth platform, said Hello Clever had grown exponentially over the past three years, offering unique consumer solutions. 

One of Caroline’s primary responsibilities is helping Hello Clever connect with KOLs, partners, and merchants.

Andrew Thornton, partnerships manager at Tyro, an Australian-based financial technology company, praised Hello Clever’s remarkable ability to adapt and grow, responding flexibly to business needs while delivering solid value. 

They are continuously leveraging new technologies in banking and payments, driving rapid improvements that give customers access to innovation, Thornton said.

Caroline and Gavin were friends at Nguyen Binh Khiem High School in Vinh Long Province.

Caroline studied finance and accounting at the University of Technology Sydney in Australia and had experience working at large corporations like WPP, IPG, and James Hardie. 

Gavin received a scholarship in software engineering from FPT University in Vietnam and graduated as the valedictorian in 2014.

Nearly 10 years later, he earned a master’s degree in IT from RMIT University in Ho Chi Minh City, graduating top of his class again.

They connected quite by chance, both wanting to create something of their own during the COVID-19 pandemic, when the country was almost completely locked down.

Caroline admitted that their early success was partly due to their bold approach, reminiscent of the characteristic daring attitude of people from the Mekong Delta region.

They took the entire Hello Clever team to Vietnam for a week-long trip last year. This was also the first time the entire team had met in person.

“We wanted our colleagues from other countries to understand more about Vietnam and its people. Even though we are going global, we still stand firmly on local ground. A solid foundation will allow us to go far,” Caroline said.

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