Impact of COVID-19 on FinTechs: Vietnam

• by Truong Quyen, Anshul Saxena and Akshat Pathak
• Jun 17, 2021
• 1 min
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Vietnam remains a nascent FinTech market, where payment solutions account for 98% of the share of FinTech funding in 2019. This report assesses the impact of the COVID-19 pandemic on the FinTech ecosystem of Vietnam. It also provides recommendations for relevant stakeholders to help affected FinTechs recover from the crisis.

While the pandemic barely affected some FinTechs in Vietnam, such as e-commerce and online food delivery firms, others were hit hard. Early-stage start-ups struggled as funding from banks and investors dried up.

This report highlights the impact of COVID-19 on the operations, revenue, and coping strategies of FinTechs in Vietnam. It explores investor sentiments and the impact of government policies on the development of FinTechs in the country. The report further provides recommendations for relevant stakeholders to help affected FinTechs recover.