F88 secures $50M loan from Hong Kong fund

The Hanoi-based company in November received a loan of the same size from the Hong Kong investment firm, according to a company's press release.

F88, backed by investment fund Mekong Capital, offers quick loan services within 15 minutes.

The company plans to have an initial public offering by 2024 and to list its shares by the end of 2025, said CEO Phung Anh Tuan.

Founded in 2013, F88 has claimed to be the fastest-growing financial service provider in Vietnam. It has 830 branches throughout the country.

F88 went through some financial difficulties in the first half of this year with a loss of VND368 billion ($15.3 million) after the police launched investigations into alleged malpractice.