Top 10 FinTech Scaleups in Vietnam

In under ten years, Vietnam’s FinTech market has grown very quickly. It has moved from just a few trial e‑wallets to a lively system with tens of millions of users. People want easier ways to pay, the Government is pushing for fewer cash payments, and banking is going digital. Because of this, e‑wallets and prepaid cards are growing about 26.6 % each year and could reach USD 7.19 billion by 2025. Against this backdrop, the ten companies below are setting new benchmarks for digital payments, investment, and banking in Vietnam. They are spearheading a more inclusive, seamless, and secure financial era for every Vietnamese consumer.

MoMo

• Headquarters: Ho Chi Minh City
• CEO: Nguyen Manh Tuong
• Founded: 2007
• Overview: Vietnam’s first e wallet to surpass 30 million users. Offers QR payments, bill pay, cash in/cash out, consumer loans, and micro investments. MoMo continually adds “Buy Now, Pay Later” and expands micro finance options for the unbanked.

VNPay

• Headquarters: Hanoi
• CEO: Le Tanh
• Founded: 2007
• Overview: QR code payment gateway (VNPay QR) linking 28+ banks and hundreds of thousands of merchants. Recently launched VNPay POS and cross border payment solutions critical infrastructure for e commerce and the national cash less push.

ZaloPay

• Headquarters: Ho Chi Minh City
• CEO: Le Lan Chi
• Founded: 2016
• Overview: Mobile wallet embedded in the Zalo super app with 14 million+ users. Enables QR payments, 24/7 transfers, bill pay, ticketing, plus new auto savings and micro bond investment features.

Timo

• Headquarters: Ho Chi Minh City
• CEO: Jonas Eichhorst
• Founded: 2015
• Overview: Vietnam’s first digital bank, in partnership with Vietcombank. Provides current accounts, international debit cards, online savings, and flexible loan packages. Attracts hundreds of thousands of retail clients thanks to an intuitive interface and low fees.

Cake by VPBank

• Headquarters: Ho Chi Minh City
• CEO: Nguyen Huu Quang
• Founded: 2021
• Overview: VPBank’s digital banking arm targeting Gen Z and young professionals with an “all in one” experience such as: accounts, cards, savings, consumer loans, and investments. Stands out with group bill splitting, smart spending insights, and integrated promotions.

Tnex

• Headquarters: Ha Noi
• CEO: Nguyen The Minh
• Founded: 2021
• Overview: Newly licensed digital bank famous for its in app grocery and food delivery features. Bundles an e wallet, QR payments, instant transfers, and auto savings.

FinHay

• Headquarters: Ho Chi Minh City
• CEO: Nghiem Xuan Huy
• Founded: 2017
• Overview: Micro investment and auto savings platform allowing users to start with as little as VND 50,000 in bond, equity, and mutual fund portfolios. Targets students and young professionals with gamified UX to build long term investing habits.

FinFan

• Headquarters: Ho Chi Minh City
• CEO: Nguyen Tuyen
• Founded: 2017
• Overview: Omnichannel payment and global collection ecosystem (inbound IBAN) directly connected to MSB and international partners. Enables individuals and businesses to receive remittances and inbound transfers with competitive fees and strict compliance. Upcoming expansion into outbound payments and partnerships with domestic wallets.

Payoo

• Headquarters: Ho Chi Minh City
• CEO: Ngo Trung Linh
• Founded: 2008
• Overview: Leading payment intermediary and bill collection network, linked to over 10,000 offline payment points. Lets consumers pay utilities, internet, insurance, and consumer finance bills easily via supermarkets and convenience stores.

MFast

• Headquarters: Ho Chi Minh City
• CEO: Phan Thanh Long
• Founded: 2020
• Overview: Tech platform connecting financial advisers with consumers. Distributes insurance, consumer loans, and credit cards. With 200,000+ agents, MFast extends financial services to low income segments and rural areas, promoting nationwide financial inclusion. These ten scaleups exemplify Vietnam’s next wave of FinTech innovation, reshaping how people pay, save, invest and access credit, and paving the way for a fully digital financial future.