Vietnamese Fintech MFast Raises US$6 Million Series a Led by Wavemaker Partnersby Fintech News Vietnam August 30, 2023
Vietnamese fintech MFast announced that it has raised US$6 million in a Series A funding round led by Wavemaker Partners.
The round was also joined by two new investors Finnoventure Fund I which is managed by Krungsri Finnovate and Headline Asia along with existing investors Do Ventures, JAFCO Asia, and Ascend Vietnam Ventures.
MFast said that it will use the new capital to expand its operations in the region by 2024.
Launched in 2017 by brothers Phan Thanh Long and Phan Thanh Vinh, MFast is a financial product distribution platform that has a presence in all 63 provinces of Vietnam.
“In the midst of the global fundraising winter, we would like to thank our investors for their unwavering support to help MFast achieve this important fundraising milestone.
We will continue to promote cooperation with financial institutions to design separate financial products for each customer segment, as well as prepare to expand to the Philippines in 2024,”
said Phan Thanh Long, CEO of MFast.