Matbao-invoice

What Matbao-invoice does

Matbao-invoice is a Vietnamese electronic invoice and digital transformation solutions provider headquartered in Ho Chi Minh City, serving over 500,000 businesses across Vietnam. The company's core platform, Hóa đơn điện tử (Electronic Invoice), enables businesses to create, issue, and manage invoices in compliance with Vietnamese tax authority requirements, supplemented by an input invoice management module (Hóa đơn đầu vào) for cost control. The technology stack includes digital signature services (Chữ ký số Mắt Bão), centralized digital signing with HSM-backed private key storage, and a newly launched mobile signing application that removes the need for USB tokens, alongside an electronic contract module (MB eContract) and Zalo Notification Service (ZNS) integration.

The platform is delivered via a B2B sales-led motion with subscription pricing starting from 99k VND, and extends through industry-specific vertical solutions covering e-commerce, transportation and ticketing, jewelry and gold retail, healthcare, and fuel stations. Distribution is supported by a 30+ technology partner ecosystem including Microsoft, Zalo, Sapo, Nhanh.vn, Vexere, Tourkit, and NEAC, plus a public API and developer documentation layer for direct integration. The company operates with approximately 14 employees and reports 23+ years of experience, though no revenue figures, funding history, or management team details are disclosed in the available source material.

Name

Matbao-invoice

Legal name

Matbao-invoice

Website

https://matbao.in

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Matbao-invoice is a Vietnamese electronic invoice and digital signature provider serving 500,000+ SMEs across e-commerce, healthcare, fuel, transportation, and jewelry verticals via a subscription SaaS platform starting at 99k VND.

Ownership category

akta.pro rank

Product category

Electronic Invoicing Software

SIC

Finance Services (6199)

akta.pro primary industry

E-Invoicing & Invoice Presentment (B2B/B2G) (FSAMAJAF)

akta.pro secondary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Electronic invoicing software
• Digital signature services
• Tax compliance solutions
• Enterprise SaaS Vietnam
• Digital transformation platform

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Electronic Invoice Subscription: Monthly/annual subscription fees for electronic invoice management system starting from 99k VND
2. Digital Signature Services: Revenue from digital signature certificates and signing services
3. Industry-Specific Solutions: Customized solutions for e-commerce, healthcare, gold/jewelry, gasoline stations, and transportation sectors

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Matbao-invoice sells a B2B electronic invoicing and digital signature platform that enables Vietnamese businesses to create, issue, sign, and manage tax-compliant e-invoices, e-contracts, and digital documents. The platform also offers vertical-specific solutions for e-commerce, transportation ticketing, jewelry retail, healthcare billing, and fuel station operations, with subscription pricing starting from 99k VND.

Product overview

Matbao-invoice is a Vietnamese electronic invoice solution provider that operates as a comprehensive digital transformation ecosystem. The core offering consists of the Hóa đơn điện tử (Electronic Invoice) platform as the central product, supplemented by digital signature modules including Chữ ký số Mắt Bão, Ký số tập trung, and Ký số trên điện thoại. Additional modules include Hợp đồng điện tử (eContract) and Dịch vụ ZNS. The ecosystem also offers industry-specific solutions for e-commerce, electronic ticketing, jewelry, healthcare, and fuel stations, along with free tools for invoice lookup, validation, and template access. The company serves over 500,000 customers with 23+ years of experience.

Differentiator

Problem solved

Functional benefit

Brands

• Chữ ký số Mắt Bão: Digital signature service branded as Mắt Bão (Golden Eye) allowing contract, invoice, and document signing compliant with legal regulations.

Products and services

• Hóa đơn điện tử (Electronic Invoice) Subscription-based electronic invoice management system for Vietnamese businesses to create, issue, transmit, and store tax-compliant e-invoices starting from 99k VND/month.
• Hóa đơn đầu vào (Input Invoice) Input invoice management system that helps businesses control and track input costs and prevent financial leakage across expense records.
• Chữ ký số Mắt Bão (Mắt Bão Digital Signature) Legally compliant digital signature certificate service for signing contracts, invoices, and documents anytime, anywhere in Vietnam.
• Ký số tập trung (Centralized Digital Signing) Enterprise-grade centralized digital signing solution with private keys securely stored on HSM (Hardware Security Module) for high-volume signing operations.
• Ký số trên điện thoại (Mobile Signing) Mobile application that lets users sign contracts, invoices, and documents on a smartphone without requiring a USB token hardware device.
• Hợp đồng điện tử MB eContract (Electronic Contract) Electronic contract management solution providing scientific workflow control over contract drafting, signing, and storage via the MB eContract system.
• Dịch vụ ZNS (Zalo Notification Service) Cost-effective Zalo-based notification service that ensures messages reach users even when they have not followed the sender's official Zalo OA account.
• Giải pháp Thương mại điện tử ECOM (E-commerce Solution) Vertical-specific invoicing and signing solution bundle for businesses operating on e-commerce marketplaces with multi-platform integration.
• Tem vé điện tử (Electronic Ticket) Vertical-specific electronic ticket and invoice solution for aviation, bus, railway, cinema, and event ticketing operators with high-volume issuance needs.
• Giải pháp Vàng bạc đá quý (Jewelry Solution) Vertical-specific invoicing and inventory solution for businesses operating in jewelry and precious gemstone retail.
• Giải pháp Khám chữa bệnh (Healthcare Solution) Vertical-specific medical billing and invoicing solution for hospitals, clinics, and healthcare service providers.
• Giải pháp Xăng dầu (Fuel Station Solution) Vertical-specific invoice system optimized for continuous, high-volume invoice issuance at fuel station retail operations.

Quantifiable outcome

• Cost savings through dedicated electronic invoice system

Named customers1 record

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• MicrosoftcoreTechnology or IntegrationTechnology partnership for integration capabilities within the Microsoft ecosystem, providing electronic invoice solutions compatible with Microsoft platforms and services
• ZalocoreTechnology or IntegrationIntegration partnership providing ZNS (Zalo Notification Service) and invoice notification capabilities reaching Zalo users in Vietnam

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Bill.com: US-listed B2B bill pay, invoicing, and spend management platform. Differentiated by geography and broader AP/AR scope, but operates in the same e-invoicing/EBPP category and is a useful international benchmark for product and monetization trajectories.
• FPT.eInvoice: FPT IS's e-invoicing and digital tax solutions, part of a broader IT services portfolio. Competes with Matbao-invoice on Vietnamese e-invoice compliance while leveraging FPT's larger enterprise IT offerings.
• VNPT-CA: Vietnamese digital signature certificate authority backed by VNPT. Competes with Matbao-invoice's Mắt Bão digital signature offering, though from a telecom-backed CA position rather than a pure invoice platform.

Others

• Sapo: Vietnamese omnichannel retail and e-commerce platform that is both a named technology partner and an adjacent ecosystem player. Comparable because it embeds invoicing into merchant workflows - a distribution channel that can either augment or disintermediate Matbao-invoice.

Direct peers

• BKAV eHoaDon: BKAV's e-invoice and digital signature service, originating from the well-known Vietnamese cybersecurity firm. Overlaps with Matbao-invoice on e-invoicing and digital signing compliance for SMEs.
• WinInvoice (CyBerSoft): Smaller Vietnamese e-invoice vendor offering GDT-compliant invoicing and digital signatures. Competes in the same SME segment as Matbao-invoice with a similar subscription pricing model.
• MISA meInvoice: Vietnamese e-invoice and digital signature provider from MISA, the country's leading accounting software vendor. Directly competes with Matbao-invoice for the same SME and enterprise customer base in Vietnam.
• Viettel eHoaDon: Military-owned Viettel Telecom's e-invoicing solution, one of the largest telco-backed e-invoice providers in Vietnam and a direct competitor to Matbao-invoice for SME and enterprise compliance customers.
• VNPT S-Invoice: State-backed telecom VNPT's e-invoice platform serving the same Vietnamese market. Competes directly on compliance, digital signature, and bulk issuance - leveraging VNPT's telecom and enterprise relationships.
• EasyInvoice (Thái Sơn): Vietnamese e-invoice platform from Thái Sơn, a long-standing accounting software vendor. Directly competes with Matbao-invoice on e-invoicing, digital signature, and tax compliance for Vietnamese businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/matbao-invoice

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Matbao-invoice