Top 5 FinTech Startups in Vietnam
Vietnam is a market full of potential development in the field ò fintech. Taking advantage of that, many startups here have taken advantage to start the Journey. Let’s take a look at the Top 5 FinTech Startups in Vietnam through the article below.
Table of Contents
1. MoMo
MoMo is an electronic wallet that allows users to pay online and make peer-to-peer (P2P) transfers, owned by M_Service company and they leading digital wallet in Vietnam, offering a range of financial services including bill payments, fuel payments, parking fees, money transfers, and both online and in-store transactions. Users can top up their wallets via credit or debit cards and access the app on both iOS and Android devices. As of October 2018, MoMo had nearly 10 million users on both iOS and Android. MoMo is invested by Goldman Sachs, Standard Chartered Bank and the US private equity firm Warburg Pincus.
- Founded: 2007
- Location: Ho Chi Minh City, Vietnam
- Stage: Series E
- Funding: $434M
- Investors: Goldman Sachs, Warburg Pincus, and 14 others
- Tracxn Score: 78/100
- Competitors Rank: 2nd out of 33
2. Sky Mavis
Sky Mavis is a blockchain-based gaming studio best known for creating Axie Infinity, a popular NFT-based strategy and role-playing game available on PC. This company leads the way in combining blockchain technology with gaming.
- Founded: 2019
- Location: Vietnam
- Stage: Series B
- Funding: $311M
- Investors: Accel, a16z, and 34 others
- Tracxn Score: 66/100
- Competitors Rank: 4th out of 312
3. Finhay
Finhay is an app-based investment platform that offers access to mutual funds and ETFs. Designed to help users create portfolios based on their risk preferences, it includes features like portfolio rebalancing, strategy development, and investment tracking. The app is available on both iOS and Android.
- Founded: 2017
- Location: Hanoi, Vietnam
- Stage: Series B
- Funding: $26M
- Investors: Headline, Openspace Ventures, and 13 others
- Tracxn Score: 64/100
- Competitors Rank: 1st out of 2
4. VNPAY
VNPAY is a payment gateway that allows customers to use the QR Pay feature built into the Internet banking app of banks on mobile phones and scan the code to pay. It was developed by Vietnam Payment Solution Joint Stock Company and they specializes in payment processing solutions, offering products such as payment gateways, QR code-based payments, app-based payments, and POS terminals. Users can link payment cards or wallets to simplify transactions across these platforms.
- Founded: 2007
- Location: Hanoi, Vietnam
- Stage: Series B
- Funding: $550M
- Investors: GIC, SoftBank Vision Fund, and 3 others
- Tracxn Score: 63/100
- Competitors Rank: 4th out of 17
5. VNLIFE
VNLIFE provides advanced omnichannel banking and distribution services. The company leverages AI, blockchain, IoT, and big data to support digital banking channels, payment solutions, and products for travel and retail industries.
- Founded: 2007
- Location: Hanoi, Vietnam
- Stage: Series B
- Funding: $550M
- Investors: General Atlantic, EDBI, and 6 others
- Tracxn Score: 59/100
- Competitors Rank: 7th out of 178
The digital economy is increasingly developing, the fintech market still has much untapped potential, this is an opportunity for young
Vietnamese startups to take advantage of.
We will update interesting and useful information about fintech regularly. You can find them at ngolong blog.
