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Friday, November 27, 2020

F88 receives VND140 billion from two foreign investors

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HCMC – F88, a company active in the secured consumer lending market, on June 9 announced to close its third growth investment round, raising approximately VND140 billion from Mekong Enterprise Fund III (consulted by Mekong Capital) and Granite Oak at a valuation of VND2,100 billion as of late 2019.

Phung Anh Tuan, chairman and CEO of F88, said the new investment would help his company continue to expand quickly and accelerate the lending growth at its existing 180 branches

F88 is well established in Vietnam’s debt capital markets and has strong relationships with local investment banks and financial institutions. Since 2019, the company has successfully issued over VND200 billion (over US$8.5 million) of corporate bonds.

Apart from offering secured lending services, F88 also provides other financial services such as distributing life and non-life insurance, bill payment and mobile money.

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