Top Fintech Companies in Vietnam: A Comprehensive Guide

Vietnam's fintech landscape is rapidly evolving, with innovative companies leading the charge in transforming the financial services sector. From digital banking and payment solutions to investment platforms and point-of-sale systems, these fintech companies are redefining how businesses and consumers interact with financial services. In this comprehensive guide, we explore the top fintech companies in Vietnam that are making significant impacts, driving growth, and setting new standards in the industry.

Vietnam's fintech landscape in 2024 is experiencing rapid growth, with the market projected to reach $18 billion. According to Vietnam fintech report 2024, this expansion is fueled by the country’s young, tech-savvy population, where over 70% of adults own smartphones, and nearly 60% of transactions are conducted digitally.

The government's push toward a cashless economy, along with regulatory reforms, supports innovation in sectors like digital payments, peer-to-peer lending, and blockchain. However, businesses must navigate challenges such as regulatory complexities and cybersecurity risks to fully capitalize on these opportunities.

Fintech in Vietnam is increasingly diverse, with over 200 fintech companies operating across various segments, including payment solutions, lending platforms, and investment services. Established banks are also entering the digital space, contributing to a competitive market environment.

As a business owner, leveraging fintech solutions can enhance operational efficiency, improve client experience, and open new revenue streams, particularly in the underbanked segments of the population. Staying informed and adapting to these technological advancements will be crucial for sustained business growth in Vietnam's dynamic fintech market. For a closer look, please check out this PDF file about the situation of fintech companies in Vietnam recent years.

Overview of Fintech in Vietnam in 2022

bePOS

bePOS, founded in 2015, is one of the top fintech companies in Vietnam, specializing in point-of-sale (POS) systems. The company provides an all-in-one, cloud-based POS software solution designed to streamline daily operations, improve client engagement, efficiently manage staff, and increase market share. 

Focusing on the Southeast Asian markets, especially Vietnam, bePOS is committed to transforming the way merchants operate, offering innovative tools that enhance business performance and growth.

Key facts:

• Founded Year: 2015
• Locations: Sydney, Hanoi, Ho Chi Minh City
• Funding: Privately funded (specific funding details may vary)
• Investors: Information on specific investors is not publicly disclosed.

Finhay

Finhay is a micro-investment platform specifically designed for millennials in Vietnam. The platform enables users to begin investing in mutual funds with as little as VND 50,000 (approximately US$2). Finhay offers personalized investment portfolios based on a user’s profile, making investing accessible and tailored to individual needs.

Key facts:

• Founded Year: 2017
• Location: Hanoi, Vietnam
• Funding: Series A (specific details not publicly disclosed)
• Investors: Backed by H2 Ventures, an Australia-based investment firm

Finsify

Finsify, formerly known as ZooStudio, is a fintech startup renowned for developing Money Lover, a leading personal finance management app in Vietnam. The app consolidates users’ bank accounts to help them track and manage their finances more effectively.

Key facts:

• Founded Year: 2011
• Location: Hanoi, Vietnam
• Funding: Early-stage funding (specific details not publicly disclosed)
• Investors: Backed by undisclosed investors

Growth Wealth

Growth Wealth is a peer-to-peer (P2P) lending platform that caters to small and medium-sized enterprises (SMEs) in Vietnam. The platform facilitates direct financing by connecting SMEs with individual and institutional investors, helping businesses secure essential funding while offering investors solid returns.

Key facts:

• Founded Year: 2017
• Location: Hanoi, Vietnam
• Funding: Part of Fintech Lab, supported by FPT and VinaCapital
• Investors: Sponsored by State Bank of Vietnam (SBV) and involved in developing the fintech regulatory framework in Vietnam.

MoMo

MoMo, developed by M_Service, is one of the top fintech companies in Vietnam, offering a leading e-wallet and mobile payment app. The app allows users to make online payments, peer-to-peer transfers, and purchase services such as game credits and utility bill payments, providing a comprehensive and convenient financial solution for its users.

Key facts:

• Founded Year: 2007
• Location: Ho Chi Minh City, Vietnam
• Funding: Series C (backed by Warburg Pincus, Standard Chartered, and Goldman Sachs)
• Investors: Supported by domestic banks and international payment networks, including Visa, MasterCard, and JCB

TheBank.vn

TheBank.vn is Vietnam's first online financial advisory platform, established in 2014. It offers free comparisons of financial products such as credit cards, loans, savings, and insurance, while connecting consumers with a network of financial experts across the country.

Key facts:

• Founded Year: 2014
• Location: Hanoi, Vietnam
• Funding: Received investment from CyberAgent Capital and NCore Ventures (2024)
• Investors: CyberAgent Capital, NCore Ventures

TrueMoney Vietnam

TrueMoney Vietnam is a branch of Ascend Money, a leading Southeast Asian fintech company. The TrueMoney Wallet enables users to make online purchases, pay bills, top up prepaid mobile and gaming cards, and transfer funds between bank accounts and digital wallets.

Key facts:

• Founded Year: Expanded to Vietnam in 2024
• Location: Ho Chi Minh City, Vietnam
• Funding: Part of Ascend Money
• Investors: Ascend
•  Money, part of the CP Group

Timo

Timo, developed by VietNam Prosperity Joint Stock Commercial Bank (VP Bank) in collaboration with Global Online Financial Solution, is Vietnam's first digital-only bank. As one of the top fintech companies in Vietnam, Timo offers a completely online banking experience, eliminating the need for physical branches or traditional transaction offices, and providing clients with a seamless, modern approach to banking.

Key facts:

• Founded Year: 2015
• Location: Vietnam (Nationwide through digital channels)
• Funding: Backed by VP Bank
• Investors: VP Bank and Global Online Financial Solution

Trusting Social

Trusting Social is a fintech and artificial intelligence (AI) company focused on providing alternative credit scoring solutions for emerging markets. By leveraging telecom data, social media, and other new data sources, the company aims to extend credit access to 1 billion unbanked consumers.

Key facts:

• Founded Year: 2013
• Location: Vietnam (Global operations)
• Funding: Series A and B funding rounds (specific investors not publicly disclosed)
• Investors: Not disclosed

TomoChain

TomoChain is a public blockchain designed to facilitate faster and more cost-effective transactions, making it ideal for decentralized applications (dApps). The network utilizes a system of 150 Masternodes and a Proof of Stake Voting (POSV) consensus, enabling near-zero fees and a two-second transaction confirmation time.

Key facts:

• Founded Year: 2018 (Mainnet launched on December 14, 2018)
• Location: Singapore
• Funding: Raised US$8.5 million through its Initial Coin Offering (ICO)
• Investors: Backed by Signum Capital, Connect Capital, and 1KX

ZION

ZION, one of the top fintech companies in Vietnam, is the creator of Zalo Pay, a versatile digital payment service. Zalo Pay enables users to link payment cards for peer-to-peer (P2P) payments, make payments using NFC and QR codes, and purchase products and services online, offering a comprehensive digital payment solution for Vietnamese consumers.

Key facts:

• Founded Year: 2016
• Location: Ho Chi Minh City, Vietnam
• Funding: Privately held (specific funding details not publicly disclosed)
• Investors: Not disclosed

VNPAY

As one of Vietnam's leading fintech companies, VNPAY is at the forefront of transforming digital payments in the region. The company offers a comprehensive suite of payment solutions for merchants, including payment gateways, QR-based payments, app-based payments, and POS terminals. 

With VNPAY, users can seamlessly connect their payment cards or wallets to the platform, streamlining transactions and enhancing the ease of digital payments across multiple channels.

Key facts:

• Founded Year: 2007
• Location: Hanoi, Vietnam
• Stage: Series B
• Funding: $550M
• Investors: GIC, SoftBank Vision Fund, and 3 others

Anfin

Anfin is a rising fintech company in Vietnam, offering an app-based stock investment platform designed for individual investors. Through its intuitive platform, users can easily buy and sell stocks, invest in mutual funds, and manage their portfolios with personalized suggestions. 

Anfin also provides access to stock market news, educational resources, and various investment tools, helping users make informed decisions and enhance their financial literacy.

Key facts:

• Location: Ho Chi Minh City, Vietnam
• Stage: Seed
• Funding: $6.63M
• Investors: Global Founders Capital, Y Combinator, and 17 others

Finding the right fintech software development partner requires evaluating several key factors. Here’s a concise guide to help identify a top fintech software development company:

• Industry expertise: Look for companies with deep expertise in fintech. They should be knowledgeable about financial compliance, security, and innovation, ensuring they can create secure and compliant financial solutions tailored to your needs.

• Technical skills & capabilities: A top fintech company should have expertise in key technologies like Java, Python, SQL, NoSQL, and cloud platforms (AWS, Azure). Additionally, they should follow structured development processes, utilize agile methodologies, and ensure clear communication to deliver projects on time.
• Proven track record: Review portfolios, client testimonials, and case studies. A solid track record in delivering fintech projects similar to yours provides confidence in their ability to meet your business needs.
• Comprehensive services: Evaluate whether the company offers end-to-end services, including consulting, custom development, testing, and support. An all-in-one provider may be more cost-effective and efficient, but ensure they have expertise in every area.

While considering the key factors for identifying top fintech software development companies, it would be a mistake to overlook Vietnam as a destination for your fintech solutions. With its growing reputation as a hub for offshore software development, Vietnam has emerged as a top choice for fintech companies globally. Here are seven standout candidates that have excelled in providing top fintech software development services, earning a place on our shortlist.

TMA Solutions

TMA Solutions stands as a leading fintech software development company in Vietnam, with 18 years of industry experience and a team of 600 highly skilled engineers. Known for its global reach, TMA serves clients across North America, Europe, and Asia, offering tailored, cutting-edge solutions that cater to the unique demands of financial institutions worldwide. Their expertise spans critical financial domains, including asset management, institutional capital markets, cash flow management, payment solutions, and embedded finance.

TMA’s services are designed to enhance efficiency, drive growth, and enable financial institutions to adapt to evolving market demands:

• Fintech application development: By leveraging advanced technologies like AI, machine learning, and big data, TMA enhances financial software solutions for asset management, core banking integration, mobile payments, and capital markets. These developments enable clients to operate more efficiently, reduce costs, and deliver enhanced user experiences.

• Core banking integration: TMA specializes in developing and integrating frontier applications with core banking systems, ensuring seamless connectivity and secure financial transactions. This service allows financial institutions to modernize their legacy systems, increasing agility and compliance with evolving regulations.

• R&D partnership: With expertise in Web3, blockchain, and NFT technologies, TMA collaborates with clients to create innovative R&D solutions that address unique business challenges. These partnerships empower clients to explore new business models, improve security, and enhance transparency in financial transactions.

• DX finance process: TMA provides end-to-end digital transformation services, encompassing analysis, planning, design, development, testing, deployment, and ongoing maintenance. This holistic approach ensures that financial institutions can achieve optimal operational efficiency, adapt to changing market demands, and maintain a competitive edge in the industry.

TMA Solutions leverages the latest technologies to create secure, scalable, and efficient fintech solutions. Their expertise includes AI/ML, blockchain, microservices, and cloud services like Google Cloud and AWS, which together provide robust support for financial platforms. Technologies such as Ethereum and BNB Chain facilitate smart contract development and tokenization, while Golang and speech recognition enhance the performance and user experience of fintech applications.

A prime example of TMA Solutions' capability in delivering cutting-edge fintech solutions is their successful development of a payment system for a leading Australian payments company. This system enables clients to pay in four equal monthly installments. TMA's contributions included building Administrator and Merchant web portals, mobile and web applications for clients, and APIs for merchant integration. They also developed Magento and WooCommerce plugins to integrate with e-commerce websites, showcasing TMA’s expertise in creating seamless, multi-faceted solutions that enhance operational efficiency and client experience.

TMA Solutions’ holistic approach to fintech software development, coupled with their commitment to technological innovation, positions them as a leader in the industry. Their ability to deliver tailored, world-class solutions has made them a preferred partner for financial institutions worldwide, ensuring they remain competitive in the rapidly evolving fintech landscape.

NashTech

NashTech is one of top-tier fintech application development services in Vietnam, specializing in empowering businesses with advanced data, AI, and process automation solutions. By modernizing core systems and optimizing operations, NashTech delivers tailored, innovative solutions that align with global business goals. Their seamless collaboration with global development centers ensures clients receive world-class, client-centric services designed to achieve success in the fintech industry.

Rikkeisoft

Rikkeisoft is a fintech development company recognized for its innovative technology solutions for financial institutions, with expertise in digital banking, payment systems, and data analytics. By leveraging AI, blockchain, and cloud computing, Rikkeisoft builds secure, scalable platforms that cater to the evolving needs of the fintech sector. Their client-focused approach and global reach establish them as a reliable partner for business growth.

KMS Technology

KMS Technology is renowned for delivering premium product engineering and digital transformation services. Their strong focus on innovation, combined with expertise in AI, cloud computing, and data analytics, enables them to create secure, scalable fintech solutions. KMS excels in optimizing operations and enhancing client experiences, making them a trusted partner for financial institutions globally.

DIGI-TEXX 

DIGI-TEXX Vietnam specializes in data-centric solutions for financial services, with an emphasis on digitization and automation. Their offerings include data processing, document management, and advanced analytics, all designed to enhance operational efficiency and accuracy. DIGI-TEXX helps financial institutions streamline processes and improve service delivery, making them a key player in the industry.

CMC Global

CMC Global offers comprehensive IT services, including digital banking solutions, cybersecurity, and cloud-based platforms. With deep industry knowledge and advanced technologies, CMC Global provides secure, scalable, and efficient solutions tailored to the evolving needs of financial institutions. Their commitment to delivering high-quality services positions them as a prominent technology partner in the fintech sector.

LogiGear

LogiGear is a specialized fintech software development company in Vietnam, with a strong focus on software testing and quality assurance. The company provides comprehensive testing services to ensure the reliability and performance of fintech applications. LogiGear’s expertise in test automation and continuous integration helps financial institutions maintain high standards of software quality, reducing risks and ensuring smooth operations in the competitive fintech landscape.

As Vietnam continues to rise as a significant player in the global fintech landscape, the top fintech companies in Vietnam are driving this transformation. Their innovative solutions not only strengthen the country's financial ecosystem but also position Vietnam as a leader in fintech across Southeast Asia. By staying ahead of technological trends and addressing the unique needs of the market, these companies are shaping the future of finance both within Vietnam and on a broader scale.