Vietnam's First P2P Lending platform - Vaymuon.vn declares its profitable business and celebrates strategic partnership with Vietnam Payment Gateway - Nganluong.vn
HANOI, Vietnam, Jan. 3, 2020 /PRNewswire/ -- Vaymuon.vn (known as Lendmo.asia in English) - the First and Largest P2P Lending Platform in Vietnam has disclosed that it becomes profitable after 2 years of official operation, successfully connected more than 2 million borrowers to 400,000+ individual lenders with the sustainable monthly growth rate of 20%; in which the retention rate remains stable at 70%.
Ms. Trang Dao - CEO of Vay Muon with her Core Team. Starting with solely 5 members, VayMuon.vn now employs more than 150 staff working in 3 offices in Vietnam, Myanmar and Cambodia
Not only does Vaymuon.vn succeed in Vietnam but it also successfully expands to regional markets including Myanmar and Cambodia with nearly 200 employees at the beginning of 2019. Remarkably, all these 3 new markets have generated profit.
VayMuon.vn previously received not only seed investment from Nexttech Group, its current strategic investor in exchange for 20% equity but also the extensive synergized supports from Nexttech's multi-digital ecosystem which appeared in "Top 10 influencers for internet growth in Vietnam during 2007-2017". With impressive operational results, Vaymuon.vn tends to skip Series-A to make towards to Series-B at the beginning of 2020.
To achieve all the mentioned accomplishments, VayMuon.vn has continuously investing in the IT system and AI technologies to deploy automation in credit assessment & scoring as well as the approval of 70-80% loan applications without heavy dependence on paper-based procedures and human resources. To date, Vaymuon.vn has obtained "330" achievements which mean it only takes 3 minutes for customers to complete their online loan applications, 30 minutes for loan appraisal and especially 3 "No" conditions: No collateral - No paperwork - No face-to-face meeting.
From 2020, Vaymuon.vn will closely associate with NganLuong.vn - Vietnam's 10-Year Largest Payment Gateway in terms of Scale and Profit, to develop Vietnam new potential markets of credit products including following products: online and offline shopping loans for merchants, advanced salary loans for workers, supply chain financing and SME funding. Depending on the extensive synergized support and strongly available resources of 2 partners, the co-operation between Vaymuon.vn and Nganluong.vn will soon create various opportunities for them to become leaders in Vietnamese Fintech market within the next 3 to 5 years.