May 21, 2020

Vietnam's First P2P Lending platform - declares i

Bizclik Editor
2 min

HANOI, Vietnam, Jan. 3, 2020 /PRNewswire/ -- (known as in English) - the First and Largest P2P Lending Platform in Vietnam has disclosed that it becomes profitable after 2 years of official operation, successfully connected more than 2 million borrowers to 400,000+ individual lenders with the sustainable monthly growth rate of 20%; in which the retention rate remains stable at 70%.

Not only does succeed in Vietnam but it also successfully expands to regional markets including Myanmar and Cambodia with nearly 200 employees at the beginning of 2019. Remarkably, all these 3 new markets have generated profit. previously received not only seed investment from Nexttech Group, its current strategic investor in exchange for 20% equity but also the extensive synergized supports from Nexttech's multi-digital ecosystem which appeared in "Top 10 influencers for internet growth in Vietnam during 2007-2017". With impressive operational results, tends to skip Series-A to make towards to Series-B at the beginning of 2020.

To achieve all the mentioned accomplishments, has continuously investing in the IT system and AI technologies to deploy automation in credit assessment & scoring as well as the approval of 70-80% loan applications without heavy dependence on paper-based procedures and human resources. To date, has obtained "330" achievements which mean it only takes 3 minutes for customers to complete their online loan applications, 30 minutes for loan appraisal and especially 3 "No" conditions: No collateral - No paperwork - No face-to-face meeting.

From 2020, will closely associate with - Vietnam's 10-Year Largest Payment Gateway in terms of Scale and Profit, to develop Vietnam new potential markets of credit products including following products: online and offline shopping loans for merchants, advanced salary loans for workers, supply chain financing and SME funding. Depending on the extensive synergized support and strongly available resources of 2 partners, the co-operation between and will soon create various opportunities for them to become leaders in Vietnamese Fintech market within the next 3 to 5 years.

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