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MFast

Mobile-first insurance and financial distribution platform for underserved markets in Southeast Asia

Distribution & Sales Growth Series A
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Overview

MFast is a tech-enabled insurance and financial product distribution platform developed by DigiPay JSC, connecting independent sales agents with carriers and financial institutions across Vietnam and Southeast Asia. The platform targets underserved populations, particularly in rural areas, enabling them to access life insurance, property insurance, consumer loans, and banking products through a mobile app.

The platform operates through a network of approximately 165,000 freelance sales collaborators who earn commissions by distributing products from partnered insurance carriers and banks. MFast supports agents across all 63 provinces and cities in Vietnam and has expanded into the Philippines through a partnership with Trusting Social. To date, nearly 600,000 people have accessed financial and insurance services through the platform.

Founded by brothers Phan Thanh Vinh and Phan Thanh Long, MFast has raised USD 10M across three funding rounds from investors including Wavemaker Partners, Ascend Vietnam Ventures, Do Ventures, JAFCO Asia, Finnoventure Fund I (Krungsri Finnovate), and Headline Asia. The CEO received the Outstanding Asian Entrepreneur 2023 award.

Products & Services

Insurance Distribution Platform

A mobile application enabling freelance agents to distribute insurance products from multiple Vietnamese carriers, including life, property, and credit insurance.

Key Features

  • Multi-carrier product catalog with real-time commission tracking
  • Life insurance distribution with approximately 40% discounts for end customers
  • Property insurance with up to 44% agent commissions
  • Credit insurance at 52.4% commission rates

Target Users: Freelance insurance sales agents and direct consumers in Vietnam

Financial Services Distribution

Facilitates distribution of banking and financial products including consumer loans, credit cards, digital banking accounts, and e-wallet registrations.

Key Features

  • Consumer loan facilitation with 4.5% agent commissions
  • Credit card acquisition at VND 200,000 per approved signup
  • Digital banking account opening at VND 85,000 per activation
  • E-wallet registration at VND 75,000 per signup

Target Users: Freelance financial sales agents across Vietnam

Installment Sales Platform

Enables agent-facilitated installment purchases for consumer goods including electronics, appliances, and household goods.

Key Features

  • 7-10% agent commissions on consumer goods installment sales
  • Electronics, appliances, and household goods categories
  • Agent-mediated purchase process for underserved consumers

Target Users: Agents targeting rural and underserved Vietnamese consumers

At a Glance

Founded
2017
Headquarters
Ho Chi Minh City, Vietnam
Employees
51-200
Funding
Series A

Category & Focus

Category
Distribution & Sales
Subcategories
Agency management embedded insurance digital distribution
Insurance Verticals
Life & Annuity P&C Personal P&C Commercial
Target Customers
Agents/Agencies, Consumers

Customers

  • BSH (Saigon-Hanoi Insurance)
  • VNI (Vietnam National Aviation Insurance)
  • PTI (Post and Telecommunication Insurance)
  • PVI (Petroleum Insurance)
  • Opes
  • VASS

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Last updated: 2026-06-14