MFast, Fintech Startup, Secures $6 Million in Funding

MFast, a fintech startup, has successfully raised $6 million in a Series A funding round to support its expansion efforts in Vietnam and international markets. The funding round was led by Wavemaker Partners from Singapore and included participation from Finnoventure Fund I in Thailand, Headline Asia in the United States, and some existing investors. With this latest funding, MFast has now raised a total of $10 million.

Established in 2017, MFast operates as a platform that connects financial and insurance institutions with consumers. Through a network of 160,000 associates, MFast facilitates the introduction and provision of financial product advice to customers in exchange for a commission. The company has witnessed a significant increase in the number of associates generating income, with a 62% year-on-year growth recorded in the first half of this year.

Currently, MFast has a strong presence throughout Vietnam and has plans to expand its operations to the Philippines in the coming year. The funding secured in the Series A round will play a crucial role in supporting this expansion strategy.