MFast
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MFast - overview
Established
2017
Location
Ho Chi Minh City, -, Vietnam
Primary Industry
Financial Services
About
Founded in 2017 and based in Ho Chi Minh City, Vietnam, Digital Payment Solutions Joint Stock Company, doing business as DigiPay JSC, operates an AI-integrated online platform that connects users to financial institutions that offer financial services like loans and insurance. The company was founded by Phan Thanh Long and Phan Thanh Vinh. In August 2023, Digital Payment Solutions Joint Stock Company trading under the name MFast raised USD 6 million in series A funding led by Wavemaker Partners, Krungsri Finnovate, Headline Asia, Do Ventures, JAFCO Asia, and Ascend Vietnam Ventures. The company's product is an AI-integrated online platform that prequalifies applicants for credit services by using predictive machine learning algorithms in order to identify the risks of the applicants defaulting to their loans.
For insurance customers, it matches them with plans using a data-driven engine. The company's revenue is generated by the transaction fee applied for every service acquired within the application.
Current Investors
JIF Capital, Do Ventures, Wavemaker Partners
Primary Industry
Financial Services
Sub Industries
e-Financial, Internet
Website
www.mfast.vn
Verticals
Artificial Intelligence, FinTech, FinTech, Mobile Apps
Company Stage
Series A
Total Amount Raised
Subscriber access only
MFast - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 11,862,250,000 | 78,030,406,516 | 291,225,752,004 | 130,505,259,034 | 91,783,136,210 | - | - | - |
| % Revenue Growth (YoY) | - | 557.8% | 273.2% | (55.2%) | (29.7%) | - | - | - |
| EBITDA (USD) | (1,491,523,164) | 1,320,356,166 | 5,317,158,128 | 950,115,207 | (2,510,798,431) | - | - | - |
| Operating Income (USD) | (1,491,523,164) | 1,320,356,166 | 5,317,158,128 | 950,115,207 | (2,713,125,633) | - | - | - |
| Operating Margin | (12.6%) | 1.7% | 1.8% | 0.7% | (3.0%) | - | - | - |
| % EBITDA Margin | (12.6%) | 1.7% | 1.8% | 0.7% | (2.7%) | - | - | - |
| NET Income (USD) | (1,490,475,373) | (3,008,905,882) | 1,856,565,874 | (822,785,374) | 7,865,599,330 | - | - | - |
| % Net Margin | (12.6%) | (3.9%) | 0.6% | (0.6%) | 8.6% | - | - | - |
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