From stigma to listing: F88 brings Vietnam pawnshops into the mainstream

An F88 outlet in Hanoi, part of a rapidly expanding network of “new-generation” pawnshop chains in Vietnam. (Photo by Nguyen Van Anh) Rapid network growth fuels planned listing this year, testing investor appetite HANOI — When Phung Anh Tuan was a 20-year-old university student two decades ago, he ran out of cash to pay staff at a cybersecurity startup. A bank loan was out of reach on such short notice, so he walked into a pawnshop, pledged what he had and borrowed enough to keep the business going.

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