Singapore-based fintech company ROSHI has announced its expansion into Vietnam after the receipt of its business licence from Vietnamese authorities.
The latest move marks ROSHI’s first international market entry since its launch in Singapore.
According to ROSHI, its expansion into Vietnam comes at a time of strong growth in the country’s lending market, with credit growth reaching 15.08% in 2024. This also indicates a rising demand for innovative financial solutions in one of Southeast Asia’s fastest-growing economies, said the fintech company.
ROSHI’s artificial intelligence (AI)-powered platform will enable Vietnamese borrowers to access competitive loan options through partnerships with local banks and finance companies.
The company’s initial focus will be on consumer financing products. It also plans to gradually broaden its offerings in line with market demand and regulatory frameworks.
In Singapore, ROSHI has facilitated hundreds of loan approvals since its launch in March 2022. The full platform is set to launch in Vietnam in Q1 2025, following system integration with local partners and extensive market testing.
ROSHI co-founder and CEO Amir Nada said: “Expanding into Vietnam represents a significant step in ROSHI’s mission to make lending more accessible and transparent across Southeast Asia.
“The strong credit growth in Vietnam underscores the market’s readiness for digital lending solutions that can provide borrowers with more competitive rates and instant personalised loan offers.”
ROSHI leverages AI algorithms and machine learning to provide instant loan offers to borrowers, facilitating home and personal loans through partnerships with various lenders.
The company also offers market insights to help consumers make informed financial decisions.
In 2023, German financial institution Deutsche Bank also made a significant commitment to the Vietnamese market, announcing an additional capital allocation of $100m for its Ho Chi Minh City branch.
