Sci-Tech

Digital lending platform to be developed for Vietnamese SMEs

Vietnam-based AsiaInvest sealed a deal with Singapore’s MoolahSense Group in Ho Chi Minh City on November 15 to develop a digital lending platform for small- and medium-sized enterprises (SMEs) in Vietnam.
Digital lending platform to be developed for Vietnamese SMEs ảnh 1At the event (Source: VNA)
HCM City (VNA) – Vietnam-based AsiaInvest sealed a deal with Singapore’s MoolahSenseGroup in Ho Chi Minh City on November 15 to develop a digital lending platformfor small- and medium-sized enterprises (SMEs) in Vietnam.

The signing was partof events for the 48th CFO World Congress held in the southern economic hubfrom November 14-16 under the theme of “Transforming Finance in the Digital Age”.

This year’s CFO WorldCongress is held by the International Association of Financial ExecutivesInstitutes (IAFEI), the Vietnam Chief Financial Officer Club (VCFO), and theJapan Association for CFOs (JACFO). It will bring together about 500 businessleaders, global CFOs, financial directors and other finance executives fromaround the world.

The agreement has outlineda roadmap for the establishment of a joint venture between AsiaInvest andMoolahSense to bring together each side’s strengths in providing high-techfinancial solutions for Vietnamese SMEs.

Founded in 2008,AsiaInvest is now an international investment corporation that focuses onemerging markets in Asia. In Vietnam, AsiaInvest has been working with itspartners to invest in a number of real estate and technological projects.

MoolahSense wasfounded in Singapore in 2013 as the country’s first digital lending platformawarded with a Capital Market Service (CMS) licence by the Monetary Authorityof Singapore (MAS). According to the firm’s co-founder and CEO Lawrence Young,it has so far provided more than 700 million SGD (508,000 USD) for about 600enterprises in the form of lending packages ranging from 50,000 SGD to 2million SGD.

The company alsooffers comprehensive solutions for business lending and borrower-lender cooperation,using the latest technologies such as microservices architecture, blockchain, machinelearning, and artificial intelligence. –VNA


VNA
#small- and medium-sized enterprises#Vietnamplus#Vietnam News Agency#SMEs#Vietnam Chief Financial Officer Club#SMEs#International Association of Financial Executives Institutes#AsiaInvest#CFO World Congress#IAFEI#MoolahSense Group
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