An F88 retailer. Photograph courtesy of F88
Shopper mortgage supplier F88 targets market capitalization of $1 billion when it lists on Vietnam’s most important bourse by 2024.
The Hanoi-based firm, which provides fast loans in opposition to automobiles, plans to extend its branches to 800 this 12 months from 521, chairman and CEO Phung Anh Tuan instructed Bloomberg.
Final 12 months it partnered with electronics retailer Cellular World to supply money loans and with CIMB Financial institution Vietnam to succeed in underbanked elements of the nation.
It’s seeking to increase VND4 trillion ($175.21 million) this 12 months by bonds or worldwide loans.
Established in 2016 it acquired funding from Mekong Capital and Granite Oak in 2017.
It achieved income of VND16.6 billion in 2019 and VND44.8 billion in 2020, in response to the newest knowledge obtainable.