Fintech Vietnam 2021 has witnessed a remarkable development when the number of users of digital financial services increases. This is also the year when Covid-19 is considered a push to create momentum for the digitalization process of the whole society, creating a premise for the strong rise of the global Fintech field in general and the Vietnamese Fintech market in particular.

1. Vietnam Fintech Market Overview 2021
It can be said that the number of startups in the Fintech field in Vietnam has always increased year by year. In 2015, Vietnam started with 39 companies. This number increased to 44 companies in 2017, 124 companies in 2019, and to 131 companies in 2020. (according to MasOffer Fintech's Fintech Vietnam 2020 market report)

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According to a survey by HyperLead - the leading Affiliate Marketing platform in Vietnam, the number of startups in the Fintech field in Vietnam has increased by nearly 255% in the period 2017-2021 (from 44 companies in 2017 to 2018). 156 companies by 2021). In which, payment services are still the largest segment, accounting for 24% of Fintech companies. Specifically, as of December 2021, Vietnam has 43 licensed non-banking service providers, but only 37 are actually operating.

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In addition, the Fintech Vietnam landscape 2021 also recorded the appearance of 03 new segments including Buy Now Pay Later, Real Estate Fintech and Accounting & Finance thanks to the emergence and strong development of startups such as Finhome, Fundiin , Bizzi, …

2. Highlights of Fintech Vietnam 2021
2.1. E-payment (Electronic payment)
While a series of industries are heavily affected by the Covid-19 epidemic, E-payment (electronic payment) has the opportunity to make a remarkable breakthrough. According to a Visa survey, 57% of consumers have up to three e-wallet apps on their phones, 55% of consumers prefer an app that can make all transactions.

Many experts believe that in 2022, the e-wallet market will be fiercely competitive, which may push e-wallet providers to merge into a few leading super apps in the region and local to dominate the market. Not only that, many super apps and service providers from other economic sectors (such as e-commerce, retail and financial services) will also cooperate.

2.2. Buy Now Pay Later
According to a report by Research & Markets, Buy Now Pay Later in Vietnam is expected to increase by 71.5% per year and reach a value of more than 697 million USD by 2021.

The development of this industry is mainly driven by the young generation and especially Gen Z - who own the consumer market today, do not passively wait for the salary to come back to account for expenses in the period. The demand for shopping, paying bills… always urges them to have more creative financial solutions. And that's the chance of prepaid, postpaid arrays.

On the other hand, the product not only solves the financial needs of users but also contributes to promoting retail sales and services, which is also one of the strong driving forces for economic recovery.

2.3. Wealth Management (Financial Investment)
If the period 2008 - 2017 is a boom period in the emergence of payment platforms, solutions and applications, contributing to creating the foundation for the development of Vietnam's Fintech market. While the period of 2017 - 2020 is the period of the wave of peer-to-peer lending businesses/projects and blockchain/cryptocurrency, from 2020 the focus of attention has been and will gradually shift to public solutions. technology for the financial investment and insurance markets.

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The fact that a number of Fintech startups in these fields have emerged strongly recently such as Tikop, Anfin, Infina, Finhay, Finbase.... These are the most obvious signs of this. Although it has appeared since the period 2017 - 2019, it will not be until 2020, especially in 2021, that the market will witness the growth in both quantity and quality of Fintech startups in this field.

3. Fintech investments in Vietnam 2021
According to the annual report of ESP Capital and Cento Ventures, despite the market fluctuations caused by the Covid-19 pandemic, venture capital for Vietnamese startups in 2021 still reached a record high with a total amount of money. invested more than 1.3 billion USD:

At the beginning of the year, MoMo successfully raised Series D capital with a value of 100 million USD, bringing the total capital called into MoMo to about 232.7 million USD. In addition, MoMo also acquired an AI startup, Pique, to further leverage its data base of 25 million subscribers. At the end of the year, MoMo continued to complete the 5th round of funding (Series E) with an investment of about 200 million USD from global investors, including Mizuho, ​​Ward Ferry, Goodwater Capital and Kora Management.
Jeff App raises $1 million in first market launch in Vietnam.
Venture capital fund Do Ventures announced to lead a $1.5 million Pre-Series A funding round into Fintech MFast platform.
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