Masan Group CEO Danny Le said the company will now shift its focus on scaling up the business as The CrownX targets an international IPO by 2024. “The next game-changer will be developing fintech solutions including buy now pay later products for the underserved, mass-market consumers by leveraging its loyalty platform with Reddi at the core,” the firm added. Last month, the firm continued to raise $340 million from South Korea’s SK Group. The Vietnamese company claimed it had recorded its first profitable quarter in Q3/2021. The company has since then developed an omnichannel retail system, or what it calls ‘Point of Life’, by combining its existing supermarket and convenience store chain WinMart, Phano pharmacy retail chain, and Techcombank, a commercial lender in which Masan owns 15%, with newly acquired assets such as Reddi and coffee and tea chain Phuc Long. The CrownX will use the capital to invest in growth initiatives and conduct a share buyback, Masan Group said. The CrownX was founded in 2020 by consolidating Masan Group’s interests in Masan Consumer Holdings and VinCommerce – a retail network the parent group took over from its peer Vingroup. […] We believe that The CrownX is the platform to capture this opportunity,” said David Tan, managing director of TPG Capital Asia.