Vietnamese fintech start-up Gimo has raised $17.1 million in a Series A funding round led by TNB Aura, with existing and new investors, to enhance financial inclusion in Vietnam.
Facts
- Gimo, a Vietnamese fintech start-up, has secured $17.1 million in a Series A funding round.
- The round included a mix of equity and debt financing and was led by TNB Aura.
- Existing backers, including Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures, and Y Combinator, also participated in the funding round.
- New investors in the round include Genting Ventures, TKG Taekwang, George Kent, and AlteriQ Global.
- Prior to this round, Gimo raised $5.1 million in its first close of funding in February.
- Gimo, founded in 2019 and based in Hanoi, offers flexible pay and mobile-based financial well-being solutions for underbanked workers in Vietnam.
- Currently, Gimo serves approximately 500,000 workers from nearly 100 businesses, with a goal to reach 2.5 million underbanked employees by 2025.
- Zhi Yong Heng, managing partner at AlteriQ Global, believes the Vietnam market is ripe for Earned Wage Access adoption, which will enhance financial inclusion for the underserved.
- AlteriQ Global’s investment in Gimo marks its debut in Vietnam, with hopes to positively impact the financial well-being of underserved communities.
- With the new funding, Gimo plans to accelerate expansion, boost product development, introduce more social impact initiatives, and form strategic partnerships with key industry leaders.
