Fvndit receives USD 30 mln debt financing for SMEs in Vietnam

Friday 11 September 2020 12:09 CET | News

Fvndit, a US/Vietnam-based Fintech has received a USD 30 million investment of debt financing led by Accial Capital and Variant Investments.

Fvndit operates a wholly-owned subsidiary, eLoan, JSC, an online peer-to-peer marketplace in Vietnam. Fvndit reports that SMEs account for 41% of Vietnam’s GDP and 98% of all businesses but remain neglected by banks with 70% having difficulty accessing credit. eLoan is targeting this underserved market.

eLoan is said to be the first peer-to-peer lending company and one of the few fintechs in Vietnam focusing purely on serving SME clients with short-term loans.

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Keywords: Fvndit, debt financing, SMEs, Vietnam, loans, fintech, lending
Categories: Banking & Fintech
Countries: Vietnam
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Banking & Fintech

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