Vietnam Dealbook: SG fund commits $500k to startups, FE CREDIT gets $50m loan

An undisclosed investment fund from Singapore has committed $500,000 in capital to ten startups of Topica Founder Institute while FE CREDIT, a consumer finance company, has signed a $50-million loan agreement with Lion Asia I (RB) Limited.

Topica Founder Institute startups receive $500,000 from SG fund

An investment fund from Singapore, whose identity was not revealed, has committed over $500,000 in capital to ten startups of Topica Founder Institute (TFI), according to a TFI announcement.

The Singapore investor was quoted as saying that Vietnam’s startup ecosystem is on the rise, adding that technology-based startups in the country will thrive in the coming years. “This is a great investment opportunity for us in Vietnam,” the investor stated.

TFI’s latest founder showcase brought together nearly 40 local and foreign venture capital and angel investors. Nine out of its 13 startups, including Unica, Logivan, Hachi, iSofh, Ferosh, Innaway, Makiplace, Fresh Deli and BookingCare, introduced their offerings as part of the showcase.

The final result was not disclosed but TFI revealed that two startups received a total investment capital of $1.5 million from investment firms in its investor network.

The Topica Founder Institute, which is a member of the Global Founder Institute Network, is a startup accelerator programme of the Topica Edtech Group.

According to the startup community, 26 per cent of startups who raised capital successfully (from seed round to Series A) in Vietnam in 2016 graduated from TFI.

FE CREDIT secures $50-million loan

The VPBank Finance Company Limited (FE CREDIT) has secured a $50-million loan from Lion Asia I (RB) Limited to expand its business, the financial services company said in a statement.

Established in 2010, FE CREDIT is a consumer finance company in Vietnam that focuses on cash loans, two-wheeler loans and consumer durable loans.

It claims to have a market share of nearly 50 per cent in the consumer finance industry in Vietnam, serving more than 6 million customers and working with 5,500 partners across 9,000 points of sale (POS) nationwide.

The consumer lender had earlier secured a $100-million senior secured loan facility from Deutsche Bank to continue to grow its business.

Also Read:

Startups from Topica Founder Institute’s Thai chapter get funding

Vietnamese startups not ready for later stage investment: Mai Duy Quang, Topica

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.