Amid the rapid development of the apartment market in Vietnam since 2016, the demand for digital solutions in building management has become more urgent than ever. It was within this wave of change that Cyfeer emerged, offering a simple yet practical technological idea: providing online management fee collection tools for apartment buildings. Although their initial concept was not technically complex, it addressed a widespread pain point across many residential communities—manual, inefficient, and non-transparent fee collection processes that consumed significant manpower.
Building on this foundation, Cyfeer gradually expanded its offering into an integrated building management ecosystem. Their flagship product, CyHome, was developed on a cloud computing platform, aiming to comprehensively digitize the operational management of apartment buildings—covering finance, resident services, and asset maintenance. CyHome not only enables building managers to track income and expenses accurately but also provides a user-friendly interface for residents. Through a few taps on their phones, residents can submit service requests, report issues, or receive important announcements from building management. This creates an effective two-way communication channel—something often lacking in traditional management models.
What stands out is that Cyfeer did not aim to impress with flashy or overly complex technology. Instead, they focused on standardizing processes and improving real-life user experiences. This approach offers a valuable lesson for tech startups: technology only has real value when it solves actual problems for end users. Compared to the prevalent solutions at the time—such as basic internal software or Excel spreadsheets—CyHome offers greater transparency, scalability, and consistency. Notably, its Software-as-a-Service (SaaS) model helps reduce upfront investment costs, allowing easy deployment across multiple buildings without heavy reliance on existing infrastructure.
Throughout its development journey, Cyfeer received meaningful support from the innovation startup ecosystem. In 2018, they secured a $30,000 investment from the VIISA acceleration program—a key resource that accelerated product development. In 2019, Cyfeer was selected to participate in the international startup exchange program “Runway to the World” organized by the Ho Chi Minh City Center for Science and Technology Promotion, giving the team access to foreign markets and the opportunity to refine their business strategy. Recognition from major competitions and awards such as Techfest 2017, Vietnam Talent Awards 2018, and EPIC 100 Hong Kong 2018 further validated the quality of their solution and its commercialization potential beyond the domestic market.
Additionally, partnerships with major institutions such as OCB Bank and real-world implementations in projects like PetroVietnam Landmark have allowed Cyfeer to test its products under practical conditions, receive diverse feedback, and continuously improve. These collaborations have not only helped expand their customer base but also enhanced credibility when approaching other potential partners in the real estate and urban tech sectors.
From Cyfeer’s growth story, several key lessons emerge for aspiring founders. First, choosing a problem that is both practical and currently underserved lays a solid foundation for any technological solution. Second, rapid prototyping, real-world implementation, and continuous iteration enable a product to better adapt to market needs. Finally, actively engaging with the broader startup ecosystem—through accelerator programs, fundraising rounds, conferences, and competitions—not only provides visibility but also offers opportunities for learning and strategic adjustment in line with industry trends.
With a vision toward smart urban living, Cyfeer is not merely offering a tech tool but is also reshaping operational habits and enhancing the residential experience in Vietnam’s apartment communities. Their combination of practical technology, deep market understanding, and smart ecosystem strategy has helped them stand out in a field often thought to be reserved for large enterprises. This serves as a compelling example of how a homegrown tech startup can create meaningful and sustainable impact—provided it takes the right path to growth.
