Alibaba’s Ant Financial quietly acquires stake in Vietnamese e-wallet firm
Ant will not control more than 50% of eMonkey, but is expected to have significant influence and provide technical expertise to the e-wallet
Ant will not control more than 50% of eMonkey, but is expected to have significant influence and provide technical expertise to the e-wallet
Vietnam’s fintech firms secured two of the top three largest funding deals in ASEAN in 2019.
The large market and great potential of the non-cash payment sector in Vietnam explain why investors keep pouring money into payment technology firms, though the firms continue making losses.