Looking back into 2018 for Fvndit, Inc.
Summarising 2018
Nothing short of magical. Over the course of 2018, we boast accomplishing many milestones for our young company. This journey cannot be rightfully celebrated without each and every team members dedication to the progress and growth of the company.
Established in December 2017, Fvndit (formerly eLoan) is the brainchild of CEO Trung Vo, a respected C-level banking veteran, and CTO Tom Tran, a seasoned Internet commerce executive and serial entrepreneur. Fvndit is the first P2P lending company in Vietnam focusing purely on serving SME clients with short-term loans. Businesses can borrow up to US$250K for up to 6 months. The company determines the loan rate based on risk categories and the loan tenure. Unlike traditional banks, the approval process is much quicker with decisions sometimes made in as little as 24 hours. Whole or fractional loans are participated by individual and institutional investors. Investors make money from the interest charged on participated loans which currently stands at 12%-20% annually while Fvndit earns revenues by charging borrowers an origination fee on each funded loan. There is no fee charged to the investors.
So what’s next for us and our faithful investors?
Fvndit currently disburses a total of US$5M and is projected to distribute US$8M by Q2 2019 and US$12M by the end of 2019. We are also deep diving and exploring into launching a Digital Security Offering to bridge USA, and APAC investors and the booming Vietnamese SME economy. Stay tuned for more updates as we close the chapter on 2018. Thank you
Website: www.fvndit.com
Twitter: @fvndit
