DWM Expands Fintech Lending Strategy and Deepens Presence in Vietnam Market with USD 5.0mm Facility to F88

Developing World Markets (DWM), a leading private credit impact investor in emerging markets, is pleased to announce the closing of a USD 5.0 million credit facility to F88, one of Vietnam’s leading technology-enabled alternative lenders. The transaction represents an important step in DWM’s multi-sector expansion strategy, further develops its lending to fintech and digital lenders, and deepens its presence in Vietnam. The investment in F88 is also an important milestone in DWM’s strategy to broaden its support to technology-enabled lenders that can reach underserved populations at scale.

Founded in 2013 and headquartered in Hanoi, F88 is a leading technology-enabled alternative secured consumer lender in Vietnam. F88 combines a technology-enabled underwriting and servicing platform with a collateral-based lending model, allowing it to serve primarily underbanked low- and middle-income customers who may have limited formal credit histories or access to traditional bank financing. The company will use the financing to widen access to secured credit for underserved small businesses and to provide individuals and households with financing for healthcare, education, and home improvement expenses.

Robert Constantino, Partner and Head of Private Credit at DWM, stated:

“This transaction marks the continued expansion of DWM’s fintech lending strategy and commitment to the Vietnam market. F88 combines a scalable, technology-enabled lending platform with significant reach among underserved consumers and small businesses. We see an important opportunity to support digital lenders that can responsibly expand access to finance, and we look forward to building our partnership with F88 and continuing our outreach across Vietnam and other markets in Southeast Asia.”

Phung Anh Tuan, Chairman of F88, commented:

“This investment from DWM is a strong endorsement of our mission and of the trust our clients place in F88. The new capital will help us reach more underbanked families and small businesses across Vietnam, giving them a safe and transparent alternative to informal lenders while we continue to uphold high standards of client protection.”

Developing World Markets (DWM) is a leading emerging markets impact investing firm. Founded in 1994, the firm serves institutional investors seeking investment solutions that offer risk-appropriate returns while sustainably addressing the social, environmental, and economic needs of the developing world. Through DWM Asset Management, LLC, the firm’s SEC-registered investment adviser, DWM has originated and managed more than $3.0 billion of private debt and private equity investments in impact-oriented enterprises across more than 70 emerging and frontier countries.

F88 is one of Vietnam’s leading alternative secured consumer lenders, founded in 2013 and headquartered in Hanoi. F88 provides small-ticket loans secured primarily against collateral to underbanked low- and middle-income consumers, along with insurance brokerage and other financial services. With a gross loan portfolio of more than USD 350 million and more than 1.6 million clients served through nearly 1,000 branches nationwide, F88 operates one of Vietnam’s largest alternative lending platforms. The company holds a Gold-level Client Protection Certification and is listed on Vietnam’s UPCoM exchange.

Robert Constantino, Partner, Head of Private Credit