Fintech startup MFast raises $6M

By Vien Thong August 29, 2023 | 10:18 pm PT

An employee of MFast gives a gift to a person in southern Binh Duong Province. Photo courtesy of MFast

Fintech startup MFast has raised US$6 million in a Series A funding round as it seeks to expand its presence in Vietnam and abroad.

The round was led by Singapore’s Wavemaker Partners, and also joined by Thailand’s Finnoventure Fund I and the U.S.’s Headline Asia along with some earlier investors.

This brings its total funding so far to $10 million.

MFast, established in 2017, helps connect financial and insurance institutions with consumers through a network of 160,000 associates who introduce and advice customers on financial products for a commission.

It said the number of associates who recorded an income in the first half of this year increased by 62% year-on-year.

It is now present all across Vietnam and plans to expand to the Philippines next year.