Viet Nam-based AsiaInvest sealed a deal with Singapore’s MoolahSense Group in Ho Chi Minh City on 15 November to develop a digital lending platform for small- and medium-sized enterprises (SMEs) in Viet Nam.

At the event (Source: VNA)

The signing was part of events for the 48^th CFO World Congress held in the southern economic hub from 14-16 November under the theme of “Transforming Finance in the Digital Age”.

This year’s CFO World Congress is held by the International Association of Financial Executives Institutes (IAFEI), the Vietnam Chief Financial Officer Club (VCFO), and the Japan Association for CFOs (JACFO). It will bring together about 500 business leaders, global CFOs, financial directors, and other finance executives from around the world.

The agreement has outlined a roadmap for the establishment of a joint venture between AsiaInvest and MoolahSense to bring together each side’s strengths in providing high-tech financial solutions for Vietnamese SMEs.

Founded in 2008, AsiaInvest is now an international investment corporation that focuses on emerging markets in Asia. In Viet Nam, AsiaInvest has been working with its partners to invest in a number of real estate and technological projects.

MoolahSense was founded in Singapore in 2013 as the country’s first digital lending platform awarded with a Capital Market Service (CMS) licence by the Monetary Authority of Singapore (MAS). According to the firm’s co-founder and CEO Lawrence Young, it has to date provided more than 700 million SGD (508,000 USD) for about 600 enterprises in the form of lending packages ranging from 50,000 SGD to 2 million SGD.

The company also offers comprehensive solutions for business lending and borrower-lender cooperation, using the latest technologies such as microservices architecture, blockchain, machine learning, and artificial intelligence.

(Source: VNA/ DA NANG Today)