F88 Business Joint Stock Company

Based in Vietnam, F88 Business Joint Stock Company specializes in providing accessible financial services, focusing on secured loans against vehicle registrations, including motorcycles and automobiles. Founded in 2013 and headquartered in Hanoi, Vietnam, F88 Business Joint Stock Company offers secured financial solutions for its customers through personal loans backed by vehicle assets. The company has completed 10 deals, with its most recent funding round being a VENTURE DEBT round in September 2023, where it raised USD 50 mn from CLSA Capital Partners. The total amount raised by the company now stands at USD 50 mn.

F88 specializes in providing accessible financial services, primarily focusing on secured loans against vehicle registrations, such as motorcycles and automobiles. The company’s core offerings include personal loans that allow customers to leverage their vehicle assets for quick funding, often with approval and disbursement processes completed within 15 minutes. F88 targets a wide range of customers, including individual borrowers in need of immediate financial support, particularly for educational expenses or emergency needs. Their services are designed to operate effectively in the Vietnamese market, extending beyond urban centers to localities where potential customers may require financial assistance.

F88's revenue model is centered around the provision of personal loans, allowing borrowers to access funds based on their income or vehicle registration. The company typically engages in direct-to-consumer transactions, with clients applying for loans either in-person or online. These loans can be secured for amounts up to 30 million VND. F88 generates revenue through interest charges associated with these loans, complemented by ancillary services such as insurance products related to the financed vehicles.

In the most recent financial year, F88 reported a revenue of USD 151,328. 20 and an EBITDA of USD 5,491. 90. In September 2023, F88 Business Joint Stock Company raised USD 50 mn in VENTURE DEBT funding from returning investor CLSA Capital Partners.

The company plans to utilize this funding to support its business expansion initiatives. Specific plans for growth include the development of new products aimed at enhancing their service offerings and plans to expand into additional markets, although specific geographic targets have not been publicly disclosed.