Yoco Reaches 120,000 Served Milestone; Five Top Insurtechs in Vietnam

Yoco Reaches 120,000 Served Milestone; Five Top Insurtechs in Vietnam

The rise of insurtech – entrepreneurs and innovators looking to do for insurance what fintechs have done for financial services – is a global phenomenon. And one of the areas where insurtech is beginning to take hold is Vietnam. The country experienced a fintech mini-boom from 2017 to 2019 which, among other things, helped put the country’s nascent insurtech market on the map. This week’s Finovate Global Lists shares Fintech News Singapore’s roundup of insurtechs operating in the APAC market of Vietnam that are leveraging everything from mobile to machine learning to bring digital insurance to the more than 97 million citizens of the country.

INSO. Founded in 2018. Headquartered in Hanoi, INSO offers insurance products online as well as the ability to make claims online. The company was among the first in the country to offer flight delay insurance. Vũ Nguyễn Thuỳ Vân is CEO.

OPES. Founded in 2018. Headquartered in Hanoi, OPES Insurance Joint Stock Company is a pioneer in Vietnam’s digital insurance industry. OPES specializes in providing personalized insurance solutions to empower customers rather than brokers.

Papaya. Founded in 2018. Headquartered in Ho Chi Minh City, Papaya offers a one-stop shop for employee benefits to promote health and wellness. Hung Phan is co-founder and CEO.

Save Money. Founded in 2013. Headquartered in Ho Chi Minh City, Save Money is a B2B2C digital insurance platform for banks, hospitals, and telecommunication companies. Trần Quang Ninh is founder and CEO.

Wicare. Founded in 2018. Headquartered in Hanoi, Wicare is a lifestyle insurance company that leverage gamification to boost engagement and encourage customers to exercise. Quang Ngoc Nguyen is founder and CEO.

It’s been more than two years since Finovate launched its first conference on the African continent. In that time, we’ve seen a number of alums from FinovateAfrica in the fintech news headlines: Best of Show-winning digital wealth technology company Bambu raised $10 million, credit decisioning solution provider RISQ teamed up with Aion Digital, and this week, small business solution provider Yoco, headquartered in Cape Town, South Africa, reported that it has reached a major milestone: more than 120,000 small businesses served.

“Through our platform and the results of a recent merchant survey, we have seen up to a 90% decrease in in-person transactions since the lockdown began,” Yoco CEO told TechGist Africa last year when it launched a trio of new payment solutions to support online transactions for small businesses. “We knew that the best way to support our merchants was to develop products that would enable them to do business online and keep money coming in through this period.”

This week for Finovate Global Voices we present Bradley Wattrus, Yoco CFO and co-founder, and Clayton Brett, Capital Product Owner, demoing the Yoco Capital solution for SMEs at FinovateAfrica 2018.

Here is our look at fintech innovation around the world.


Sub-Saharan Africa

Central and Eastern Europe

Middle East and Northern Africa

Central and Southern Asia

Latin America and the Caribbean

Photo by Arnie Chou from Pexels

FinovateAfrica Sneak Peek: Yoco

FinovateAfrica Sneak Peek: Yoco

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot.

Yoco is an African technology company that builds tools and services to help small businesses get paid, run their businesses better, and grow.

Yoco Capital includes:

  • Fast, simple access to a cash advance
  • No security or collateral required
  • One-of-a-kind payback method with no debit orders or late fees.

Why it’s great
Yoco Capital is the simplest, fastest way to access a cash advance for your business with an effortless, one-of-a-kind payback method.


Bradley Wattrus, CFO and Co-Founder
Highly experienced in business strategy and venture development, Wattrus enjoys the daily challenges of the fintech industry.


Clayton Brett, Capital Product Owner
Brett has 15 years of financial industry experience in business analysis and project management.

Finovate Alumni News

On Finovate.com

  • GreatHorn Unveils Comprehensive Email Security Solution for the Enterprise.

Around the web

  • UrbanFT Co-Founder Mark Kilpatrick named to Forbes’ 30 Under 30.
  • Entrust Datacard IntelliTrust Cloud Service strengthens authentication for Microsoft Azure customers.
  • NIIT Technologies partners with R3 to build solutions on the Corda Platform.
  • CardFlight earns top 50 ranking in the 2018 Deloitte Fast 500 roster.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.