Vietnamese financial services firm F88 has secured a US$30 million loan from London-based investment platform Lendable, DealStreetAsia has learned.
This is reportedly the largest single financing deal Lendable has extended to a Vietnamese company to date
The three-year facility builds on a funding relationship established in 2022 and 2023, when Lendable extended multiple loans ranging from US$5 million to US$10 million.
With the latest agreement, Lendable’s total financial commitment to F88 now nears US$70 million.
Headquartered in Hanoi and backed by private equity investors, F88 has been strengthening its capital base as it prepares for a public listing.
The firm recently filed to trade on Vietnam’s Unlisted Public Company Market (UPCoM), and on 6 May, the State Securities Commission confirmed that F88 had met all requirements to become a public company.
It aims to list on the Ho Chi Minh City Stock Exchange by 2027 with a projected market capitalisation of around US$1 billion.
The new funding will support F88’s growth plans, including a 30% increase in both revenue and customer base this year.
In the first quarter of 2025, the company disbursed 3.28 trillion Vietnamese dong in loans, up 25% year-on-year, and generated revenue of 820 billion dong, a 21.5% increase.
Pre-tax profit rose sharply by 204.2% to 132 billion dong.
F88 specialises in small secured loans backed primarily by vehicles and offers related services such as insurance and money transfers.
Its nationwide network currently includes 888 branches.
In addition to Lendable, F88 has forged financing partnerships with other international players including Lending Ark Asia Secured Private Debt Holdings and GreenArc Capital, bringing its total borrowing capacity to over US$170 million.
Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik
