Top 10 fintech companies and growth in fintech investment in Vietnam

Top 10 fintech companies and growth in fintech investment in Vietnam

Fintech companies are companies working in financial technology (fintech) fields such as insurance, investing and banking is also an example.

Today, let’s learn about the top 10 fintech companies and the growth in fintech investment in Vietnam with FinFan.

Top 10 fintech companies in Vietnam

There are currently about 154 active companies in Vietnam’s Fintech ecosystem operating in the following segments: payment, digital banking, wealth management, peer-to-peer lending (P2P lending), blockchain/cryptocurrency, crowdfunding, credit scoring, SMEs financing, comparison, POS and insurtech.

Below is all about the most developed Fintech segments in Vietnam as well as the largest companies operating in each segment.


Developing with cashless payment movement during COVID-19 times. Online payments or Internet payments have created a trend and exploded in the Vietnam fintech market.

The most developing field of online payment is an e-wallet, which owns famous names like:

  1. MoMo

MoMo is always mentioned in FinFan’s essays. That’s because it has developed so strongly and has become the symbol of fintech startups.

MoMo is an electronic wallet that allows users to pay online and make peer-to-peer (P2P) transfers, owned by the M_Service company. It is invested by Goldman Sachs, Standard Chartered Bank and the US private equity firm Warburg Pincus.

  1. Zalo Pay

Zalo Pay owned by ZION company, is an e-wallet providing payment services integrated with Vietnam's most popular messaging platform, Zalo. It allows users to link payment cards for P2P payments, payments via NFC, QR codes, as well as purchase products and services online...

  1. VNPay

VNPay QR 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.

With this model, VNPay immediately owns the available users of 30 banking apps and 6 e-wallets. In 2019, the company raised 300 million USD from SoftBank's Vision Fund and Singapore's GIC investment fund.

Digital banking

Digital banking is also an attractive field where many traditional banks want to update and become the best of this segment. Here are the 2 best digital banks up to the recent.

  1. Timo

Founded in 2015, Timo is a name that combines the letters “time” and “money” and has consistently emphasized customer-centricity at its core. The company is widely recognized as one of the first banks in Vietnam to offer eKYC services that save customers time during onboarding and allow access to other banking services online.

In 2019, the bank partnered with Viet Capital Bank and OpenWay, the provider of Way4, the leading digital payments software platform, to enable it to offer innovative services through their app, including smart financial management tools, payments, savings and investments, lending, social spending, installments, cards, and campaigns with third-party vendors, available on multiple digital platforms – iOS, Android, and web.

  1. Cake by VPBank

One of Vietnam’s fastest growing digital banks is Cake, which was launched by the high profile Be Group and VPBank in January 2021.

Cake’s USP is that it is integrated with the very popular ‘Be’ ride-hailing app - the first Vietnamese bank to be embedded with a ride-hailing app - allowing instant mobile access to financial services to millions of Vietnamese consumers.

P2P lending

Due to COVID-19, many people fall into debt and can’t have a condition to pay for this lending (maybe from banks or financial companies), they need to find a place where they can borrow money and don’t need to do any complicated procedures by banks.

For that reason, P2P lending was born and has developed so fast in the Vietnam fintech market. Prominent companies in this segment include:

  1. Tima

Tima is a consumer finance company and peer-to-peer lending platform. This company has signed cooperation agreements with financial institutions such as Vietinbank and Dong A Bank, and claims to have disbursed about 1.7 billion USD in loans to 2.8 million people and has more than 30,000 lenders on its platform.

  1. Vay Muon

Vay Muon Joint Stock Company was first launched at the end of 2017. To date ' is one of the leading peer-to-peer lending platforms in Vietnam, connecting more than 2 million customers with nearly 400,000 investors and growing over 20% per month.

Wealth management

COVID-19 was the time for wealthy people when they could look back for their money or young people, who didn’t have enough money to invest in the stock, real estate, etc. to explore new channels to invest. That’s why wealth management was established.

Here are 3 best companies in this segment:

  1. Finhay

Finhay is a wealth management platform that helps individual investors micro-invest in mutual funds and allows them to conveniently access financial products digitally. This platform uses machine learning to identify recommended investments for investors and helps them flexibly accumulate and invest from small sources of capital to create properties. It also offers future protection that assists retail investors to invest in mutual funds.

The company started as an online investment platform for young people in Vietnam as it grants users to make micro investments in financial products starting from 50,000 Vietnamese Dong (US$2.15).

Finhay was co-founded by Huy Nghiem and Minh Tri Do in 2017 and is headquartered in Hanoi, Vietnam.

  1. Infina

Infina is the accumulative investment app for everyone. With Infina, everyone can become a smart investor easily.

With a wide range of investment products, Infina can help you earn better returns than in the bank and be safer than surfing stocks, playing crypto.

No more complications, no large capital requirements, minimal risk, helping everyone to start their investment journey easily.

  1. Anfin

Launched in October 2021, Anfin is a multi-utility financial application that opens up investment opportunities for everyone.

Towards a convenient and multi-utility investment experience, Anfin has a friendly and easy-to-use interface that allows users to easily trade, accumulate and use investment support services on just one application.

Growth in fintech investment in Vietnam

In several recent years, fintech investment has become an interesting topic for investors around the world. Vietnam is recognized as the next dragon of Asia, which has the potential to shoulder with Taiwan in the next 5 years.

In this development, fintech is a great key to opening the technology door and helping the economy of Vietnam turn to a new page.

According to Nextrans' Vietnam Startup Industry Report 2022, a Vietnamese fintech startup with a total investment capital of 137.9 million USD (accounting for 2.3% of the negotiated value in the region), received 14 investment deals (6% of the total number of fintech deals in Southeast Asia).