Founded in 2013, F88 was a pioneering chain of collateralized lending stores in Vietnam with 10 branches, representing great growth potential. We were inspired by the co-founders who were very open-minded and rooted with a strong commitment to a big vision for their future: to become the No.1 service company in Vietnam and to be loved and admired by everyone.
When we completed our investment, we thought that we had a clear picture of how to manage and lead a fast-growing company. Thus, we tried to introduce lots of 'best practices’ and shared lots of knowledge. However, since we occurred to be outsiders who kept proposing solutions that were not relevant to whatever obstacles they were facing, we did not make any impact.
The next year, F88 accepted our invitation to join a 9-month leadership coaching workshop together with many of our investee companies. By the end of that program, the senior leaders created for themselves new ways of being strong leaders, who shared the same languages and core values. Thanks to this new leadership, F88 has successfully rolled out its culture and core values and as a result, F88’s velocity of execution was accelerated.
Since then, F88 has grown its loan balance by more than 40 times, has increased 30 times its number of stores to 358 as of 31 Mar 2021, and has emerged as Vietnam’s #1 company in its sector. In 2019, F88 has received the Smart Campaign’s Smart Certification for practices that reflect and promote consumer protection. This reflected the efforts of the F88 management team and its employees in optimizing operation backed by the strong customer-driven mindset.
By the end of 2023, F88 aims to expand its footprint to 1000 branches nationwide. In parallel with this growth, F88 continues to implement strong tech-enabled initiatives in every business touchpoint to optimize its service quality and business performance across its network and is on track to achieve its ambitious vision.