Is Ahamove profitable in 2026?

Ahamove says it reached breakeven around 2020, about five years after its 2015 founding, and described itself in a May 2024 VnExpress report as achieving double-digit growth as Vietnam's pioneering profitable delivery app. These are the company's own claims, not audited figures.

Ahamove is the on-demand delivery brand of Scommerce, a Vietnamese logistics holding group founded in 2012 by Dinh Anh Huan, also a Mobile World co-founder. Scommerce raised about $100M led by Temasek, closing October 29, 2019, alongside eWTP Capital and Olympus Capital Asia.

Who is Ahamove's biggest competitor?

Grab, via GrabExpress, is Ahamove's biggest threat since it runs the same on-demand delivery model with Southeast Asia's largest superapp backing. Lalamove, which entered Vietnam in 2017, and domestic app Be also compete directly for the same delivery GMV.

Could AI replace Ahamove's business?

No, Ahamove's core value is its physical driver network of drivers and merchant integrations, which AI cannot replicate. Ahamove itself deployed AI as a tool, launching the AhaFood.AI GenAI chatbot in Da Nang around March 2024 using GPT-4o-mini and Llama 3.1 for merchant order-taking.

Has Ahamove raised new funding recently?

No new funding round for Ahamove or parent Scommerce has been publicly reported since the roughly $100M Temasek-led round closed October 29, 2019. As of July 2026, there is no disclosed capital raise in the years since.

AhaFood.AI is Ahamove's GenAI virtual assistant for F&B merchants, launched in Da Nang between March and May 2024 on MongoDB Atlas using OpenAI's GPT-4o-mini and Meta's Llama 3.1. Ahamove targeted 10% of Da Nang food-delivery volume and planned nationwide rollout in H1 2025.

Logistics and supply chain companies · subsidiary of Scommerce · Vietnam

Ahamove

ahamove.com ↗

Vietnamese on-demand delivery marketplace running parcels, food, and courier via ~200k drivers.

Losing its protection

Assessed 30 July 2026 · Evidence as of 30 July 2026

The structural protection is eroding.

On the recordSince 30 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: Tracking whether AhaFood.AI and the Selex Motors EV bike rollout scale nationwide or stay pilot-sized

The call

Ahamove keeps running a profitable delivery network under Scommerce, but it hasn't raised new money since 2019 while Grab operates the same service at greater scale.

Ahamove runs a delivery marketplace in Vietnam where customers order food and packages through an app, and the company coordinates a network of about 200,000 drivers to complete the deliveries. The hard part is building that driver network and keeping merchants happy, which Ahamove has done for ten years. But Grab, a much richer company, already offers the exact same service in the same country through GrabExpress, and other competitors like Lalamove and Be are also there with more money to spend on discounts and marketing. Ahamove has not raised new funding since 2019 and its staff is shrinking, which could signal it is losing ground. The one thing that could change this is if Ahamove gets a fresh injection of cash from its parent company Scommerce, or if its new AI-powered food delivery service takes off nationwide instead of staying small.

Why

AI pressure: None apparent. AI tools like Ahamove's own AhaFood.AI assist restaurant orders and dispatch, but no AI system replaces the physical driver network. Could AI do the core job? Unlikely.

Bigger players: Grab, via GrabExpress. Grab already runs an identical express delivery service across Vietnam with far deeper capital and a superapp user base. Could a giant copy it? Yes, easily.

What protects it. A decade-old driver network of roughly 200,000 partners plus sister-brand GHN and Scommerce's parcel infrastructure.

What would change this call

Scommerce or Ahamove announces a fresh priced funding round in the next 12-18 months. Would show investors still believe in growth prospects against Grab and Be.
Ahamove headcount continues declining past the 638 mark reported for 2025-2026. Would indicate contraction and weakening competitive position versus rivals.
AhaFood.AI rollout stays confined to Da Nang without nationwide expansion by end of 2026. Would show the AI product failed to scale as a differentiator against Grab's offerings.

Key numbers

200,000+ drivers across 20 cities (2023)
Parent Scommerce raised $100M led by Temasek (2019-10-29)
Headcount fell about 12% versus 2025 peak (Q1 2026)

Named risks

No fresh capital raise disclosed since October 2019 Temasek round while rivals hold far larger war chests. Severity: high
AhaFood.AI's planned H1 2025 nationwide rollout has no confirmed expansion beyond Da Nang as of 2026. Severity: medium
Disputed Grab/Be market-share data (Jul 2026) signals active price and GMV competition Ahamove must absorb. Severity: medium
US Section 301 tariff action on Vietnam (Jul 24, 2026) may dampen e-commerce and cross-border shipping volume feeding delivery demand. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Grab (GrabExpress)	contesting	Runs identical on-demand delivery model with superapp scale; disputed Vietnam market-share report, Jul 2026
Lalamove	contesting	Hong Kong-based, entered Vietnam 2017, competes on same-day delivery
Be	contesting	Domestic rival contesting delivery GMV share amid disputed Jul 2026 market data

Questions people ask

Is Ahamove profitable in 2026?: Ahamove says it reached breakeven around 2020, about five years after its 2015 founding, and described itself in a May 2024 VnExpress report as achieving double-digit growth as Vietnam's pioneering profitable delivery app. These are the company's own claims, not audited figures.
Who owns Ahamove?: Ahamove is the on-demand delivery brand of Scommerce, a Vietnamese logistics holding group founded in 2012 by Dinh Anh Huan, also a Mobile World co-founder. Scommerce raised about $100M led by Temasek, closing October 29, 2019, alongside eWTP Capital and Olympus Capital Asia.
Who is Ahamove's biggest competitor?: Grab, via GrabExpress, is Ahamove's biggest threat since it runs the same on-demand delivery model with Southeast Asia's largest superapp backing. Lalamove, which entered Vietnam in 2017, and domestic app Be also compete directly for the same delivery GMV.
Could AI replace Ahamove's business?: No, Ahamove's core value is its physical driver network of drivers and merchant integrations, which AI cannot replicate. Ahamove itself deployed AI as a tool, launching the AhaFood.AI GenAI chatbot in Da Nang around March 2024 using GPT-4o-mini and Llama 3.1 for merchant order-taking.
Has Ahamove raised new funding recently?: No new funding round for Ahamove or parent Scommerce has been publicly reported since the roughly $100M Temasek-led round closed October 29, 2019. As of July 2026, there is no disclosed capital raise in the years since.
What is AhaFood.AI?: AhaFood.AI is Ahamove's GenAI virtual assistant for F&B merchants, launched in Da Nang between March and May 2024 on MongoDB Atlas using OpenAI's GPT-4o-mini and Meta's Llama 3.1. Ahamove targeted 10% of Da Nang food-delivery volume and planned nationwide rollout in H1 2025.

Timeline

2026-07-25Grab, Be and Mordor Intelligence dispute Vietnam ride-hailing/delivery market share data
2026-07-24US Section 301 tariff action announced against Vietnam
2025-06-17Ahamove and Selex Motors announce 1,000 e-bike deal, 300 units activated at launch
2024-09-19MongoDB publishes case study on Ahamove's AI chatbot deployment
2024-05-14VnExpress reports Ahamove's GenAI assistant launch and double-digit growth claim
2024-03AhaFood.AI GenAI chatbot launched for restaurants in Da Nang
2022-11Ahamove and VinFast launch AhaFast electric-motorbike pilot in Da Nang
2019-10-29Scommerce closes roughly $100M funding round led by Temasek
2015Ahamove founded in Ho Chi Minh City, Vietnam

Revision history

30 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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Sources

Facebook for Developers
Logistics firm Scommerce raises $100 mln from Singapore's Temasek (2019-10-29)
Vietnam's logistics firm Scommerce confirms latest financing round led by Temasek (2019-10-28)
Valuation, Funding Rounds & Stock Price (2025-05-31)
Revenue, Competitors, Alternatives (2022-04-18)
Management and Employees List
Ahamove launches GenAI virtual assistant for restaurants (2024-05-14)
Ahamove (marketing case study)
Ahamove Rides Vietnam's E-commerce Boom With AI On MongoDB (2024-09-19)
Ahamove Number of Employees 2026 (2026-07)
Where is Ahamove Located? (2023-09-26)
AhaMove Careers and Employment (2023-06-11)