Successfully mobilizing 780 billion VND, F88 has more motivation to accelerate before listing on UPCoM

The above loan has a term of 3 years, and is the largest loan that Lendable has ever granted to a financial enterprise in Vietnam.

Previously, Lendable had provided capital support to F88 many times in 2022 and 2023 with a limit of 5 - 10 million USD. With a loan worth 30 million USD, the total capital that Lendable has provided to F88 to date is nearly 70 million USD. Continuing to provide capital to F88 with a much higher limit shows that F88's credibility, risk management capacity and long-term development prospects are increasingly high in the eyes of foreign funds.

“Lendable provides capital to fintech and microfinance companies with the goal of expanding financial access to people who are not fully served by the banking system. F88 is the first enterprise in Vietnam to receive such a large loan with such a long term from Lendable. This shows Lendable's confidence in our strategic direction, operational efficiency and risk management capabilities,” said a senior representative of F88.

F88's representative added that the new loan from Lendable will be used by the company to promote business, expand scale, aiming to complete the target of 30% revenue growth and increase the total number of customers by 30% in 2025. Completing this goal will help F88 gain a better position on the UPCoM floor. Previously, on May 6, 2025, the State Securities Commission confirmed that F88 fully met the conditions to become a public company.

The business results report for the first quarter of 2025 shows that F88 has maintained a high growth momentum for 5 consecutive quarters. In the first three months of this year, F88 disbursed VND 3,284 billion (up 25% over the same period), revenue reached VND 820 billion (up 21.5%) and pre-tax profit reached VND 132 billion (up 204.2%). It is forecasted that outstanding loans and disbursements in the second quarter of 2025 will increase by 5% -10%, pre-tax profit will increase by 20% compared to the first quarter.

Currently, the Company operates 888 stores nationwide. In addition, the Company has established a strategic partnership with the Military Commercial Joint Stock Bank (MB) to diversify financial products and services and a logistics company with more than 10,000 transaction points to expand the distribution network of alternative financial products.

In early April 2025, credit rating agency FiinRatings also upgraded F88's outlook from "Stable" to "Favorable" thanks to improved asset quality, flexible capital mobilization capacity and leading position in the alternative lending market. FiinRatings noted that F88 has effectively diversified its capital sources and prepared a plan to increase charter capital in 2026, while reducing average capital mobilization costs. The loan from Lendable has affirmed FiinRatings' assessment of F88.

In addition to Lendable, F88 is also cooperating with many other international financial partners such as Lending Ark Asia Secured Private Debt Holdings Limited and GreenArc Capital with a total loan limit exceeding 170 million USD.

Source: https://baodautu.vn/huy-dong-thanh-cong-780-ty-dong-f88-co-them-dong-luc-but-toc-truoc-khi-len-san-upcom-d287799.html