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MFast get backing from Wavemaker Partners to increase financial services access in Vietnam

TechCrunch · 1y

Vietnam-based MFast has raised $6 million in a Series A funding round led by Wavemaker Partners, with participation from new investors Finnoventure Fund I and Headline Asia, along with returning backers. MFast operates a financial services distribution network in rural Vietnam, connecting customers with financial products like loans, insurance, and appliances. The company currently has 160,000 active agents and has served over a million users in Vietnam. The funding will be used to expand operations in Vietnam and into other markets, starting with the Philippines. MFast also plans to enhance its technology with features like a credit scoring engine and AI fraud detector.