TNEX

What TNEX does

TNEX is a Vietnam-based digital banking and consumer finance platform founded in 2018-2019 and headquartered in Hanoi. It offers a mobile-first suite that includes consumer loans, buy-now-pay-later (BNPL), e-commerce seller financing, savings products, and a payment account issued in partnership with Maritime Commercial Joint Stock Bank (MSB). Its stated mission is to serve underbanked Vietnamese consumers and small online merchants who are poorly served by traditional retail banks.

The platform is built on a banking-as-a-service architecture, with the Mambu cloud core banking system handling account, deposit, and ledger infrastructure, and MSB acting as the licensed banking partner for regulated activities such as payment accounts. Distribution is anchored in major Vietnamese digital ecosystems, including Zalo, VNPT, Mobifone, and ViettelPay, which provide user acquisition and payment rails that TNEX does not have to build from scratch. By 2024 the company reported approximately 3.4 million users, up roughly 70% year-over-year.

TNEX monetizes primarily through interest income on consumer and merchant credit, interchange and take-rate fees from BNPL and merchant financing, and fees on deposits and payment services routed through its banking partner. The company is private, headquartered in Hanoi, and employs 51-100 people as of the most recent disclosed period. It has not publicly disclosed funding rounds, revenue, or loan-book size, and has accumulated more than 20 industry awards including The Asian Banker "Best Digital Bank in Vietnam 2024."

Name

TNEX

Legal name

TNEX Finance Company Ltd

Website

https://tnex.com.vn

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

TNEX is a Vietnam-based digital banking and consumer finance platform offering consumer loans, BNPL, merchant financing, and payment accounts via MSB. It serves underbanked Vietnamese consumers and small e-commerce merchants, distributed through Zalo and telco ecosystems, with 3.4 million users in 2024.

Ownership category

akta.pro rank

NAICS

Sales Financing (52222), Sales Financing (522220)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG)

akta.pro secondary industries

BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG), B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC), Buy Now, Pay Later (BNPL) (CRAFALAD)

Keywords

• Digital banking
• Consumer lending
• Buy now pay later
• Mobile payments
• Neobank platform

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Consumer Lending Interest Income: TNEX generates primary revenue from interest charged on consumer loans and seller financing. Loan products include consumer loans (vay tiêu dùng) with competitive rates, flexible tenures, and no hidden fees; e-commerce seller loans up to 100 million VND with terms up to 36 months.
2. BNPL Transaction Revenue: Revenue from Buy Now Pay Later service with credit limits up to 20 million VND. Interest-free period of up to 35 days generates revenue through merchant transaction fees or interest on extended repayment periods.
3. Banking Services (via MSB Partnership): Banking utilities including QR payments, fund transfers, bill payments, and mobile top-ups are provided through partnership with Maritime Commercial Joint Stock Bank (MSB). Revenue sharing arrangements with MSB for services branded TNEX by MSB.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

TNEX is a Vietnam-based digital banking platform (neobank) that offers consumer personal loans, buy-now-pay-later (BNPL) financing, a payment/current account with an associated debit Mastercard, and savings products through its proprietary mobile application. Banking infrastructure, regulatory backing, and card issuing are provided in partnership with Vietnam Maritime Commercial Joint Stock Bank (MSB).

Product overview

TNEX is a comprehensive digital financial platform operating on a platform-plus-partner model. The core offering consists of three primary financial products — consumer lending (Vay tiêu dùng), e-commerce seller financing (Vay cho nhà bán hàng trên sàn TMĐT), and a buy-now-pay-later service (Tiêu trước trả sau) — all accessible through the TNEX mobile application. Banking infrastructure and utilities (payment accounts, savings, money management) are delivered under the 'TNEX by MSB' sub-brand, powered by MSB (Vietnam Maritime Commercial Joint Stock Bank). Additional features include a savings jar (Hũ tích lũy), multi-purpose fund (Quỹ đa năng), and a group expense-splitting feature for travel. The platform serves over 2.6 million users and has won more than 20 awards.

Differentiator

Problem solved

Functional benefit

Products and services

• TNEX Payment Account (Current Account)
• TNEX Mastercard Debit Card
• Consumer Personal Loans
• Buy Now Pay Later (BNPL)
• TNEX Savings Products

Quantifiable outcome

• 70% user growth reaching 3.4 million users in 2024
• +2 more outcomes

Named customers15 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core, major and minor.

• MSB (Maritime Commercial Joint Stock Bank)coreTechnology or IntegrationStrategic partnership where MSB provides banking infrastructure for TNEX by MSB branded services including current accounts, savings products, QR payments, and fund transfers. This partnership is fundamental to TNEX's ability to offer regulated banking services.
• MISAcoreStrategic or Co-development PartnerPartnership to connect financial solutions for businesses and business households (hộ kinh doanh), enabling SME customers to access TNEX financial products through MISA's business management ecosystem.
• MobifonemajorChannel Partner/ Reseller/ DistributorIntegration of TNEX financial products on My Mobifone platform, expanding distribution reach to Mobifone's telecommunications customer base.
• Viettel PostmajorChannel Partner/ Reseller/ DistributorDistribution partnership extending financial service reach through Viettel Post's nationwide logistics network, providing physical distribution points for TNEX services.
• CellphonemajorChannel Partner/ Reseller/ DistributorPartnership expanding customer touchpoints through Cellphone's technology retail store system, enabling in-person access to TNEX financial services.
• 9payminorChannel Partner/ Reseller/ DistributorIntegration of TNEX financial products for sellers on Tingting app, enabling e-commerce sellers to access financing solutions within the Tingting marketplace.
• Vui AppminorStrategic or Co-development PartnerCollaboration to develop financial solutions for workers/laborers, expanding financial inclusion to underserved workforce segments.
• HURCminorChannel Partner/ Reseller/ DistributorPartnership to expand digital financial access within urban traffic ecosystem, reaching commuters and transportation service users.
• VuongminorChannel Partner/ Reseller/ DistributorIntegration of business capital financing solutions into digital management platform, targeting business customers with financing needs.
• Fiza (Zalo Ecosystem)coreChannel Partner/ Reseller/ DistributorIntegration of TNEX financial products into Zalo ecosystem through Fiza, leveraging Vietnam's dominant messaging and social platform for distribution.
• KiotVietmajorChannel Partner/ Reseller/ DistributorComprehensive digital financial solutions partnership with KiotViet's retail management platform, serving SME and retail business customers.
• VNPT MoneymajorChannel Partner/ Reseller/ DistributorPartnership to develop digital financial solutions on VNPT Money app, leveraging VNPT's telecommunications infrastructure and customer base.
• ZaloPaycoreStrategic or Co-development PartnerJoint product development partnership with ZaloPay for breakthrough financial products, leveraging Zalo's platform capabilities and user base.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Timo: Vietnamese digital bank offering mobile-first current accounts, savings and consumer lending. Directly comparable to TNEX as a domestic neobank competing for the same Gen Z and underbanked consumer base.
• Akulaku: SEA digital consumer finance and BNPL platform with presence in Indonesia, Philippines and Vietnam. Comparable product mix of consumer credit, BNPL and digital banking features targeting underbanked consumers.
• Atome: SEA-focused BNPL provider active in Vietnam among other markets. Directly comparable on BNPL mechanics, merchant integration and consumer credit underwriting, though operating across multiple geographies.
• ZaloPay: Zalo-ecosystem payment and lending platform. A TNEX distribution partner via Fiza, but also a direct competitor in Vietnamese digital payments and consumer credit with far larger reach.
• Cake by VPBank: VPBank-backed Vietnamese neobank that, like TNEX, deploys on Mambu's core banking platform. Comparable product set spanning consumer lending, BNPL-style credit and digital banking utilities in Vietnam.
• Kredivo: Indonesia-headquartered digital lender and BNPL provider with similar CCCD-only / thin-file underwriting approach. Comparable as a regional digital consumer credit and BNPL platform.

Broad incumbents

• MoMo: Vietnam's leading super-app wallet with tens of millions of users, an established payment and consumer credit product set. Comparable as a broader incumbent that overlaps with TNEX's BNPL, payments and consumer lending lines.
• VNPay: Dominant Vietnamese payment gateway linked to most domestic banks. Comparable as a wider incumbent in the digital payments and merchant finance stack that TNEX competes within for BNPL and consumer credit distribution.
• Mirae Asset Finance Vietnam: Vietnamese consumer finance arm of Mirae Asset with a heavy digital lending focus. Comparable as an established incumbent in Vietnam's unsecured consumer lending market that TNEX overlaps with.
• FinViet (FE Credit): One of Vietnam's largest consumer finance companies, focused on unsecured personal loans and BNPL through retail and e-commerce channels. Comparable as a broader incumbent in Vietnamese consumer credit.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TNEX_Vietnam

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TNEX