Fintech startup GIMO secures $5.1mln in Series A round
Company picks up investment of $7.5 million in two funding rounds.
Vietnamese fintech startup GIMO has announced the first close of its Series A funding round with a $5.1 million investment led by Singapore-based investment fund TNB Aura.
Other parties in the round are returning investors, including Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures, and Y Combinator.
According to figures from Tech in Asia, GIMO has successfully raised a total of $7.5 million through two funding rounds, after picking up $2.4 million in the seed round.
“The capital will bolster our product innovation, which appeals to underserved workers, and drive revenue growth,” said Mr. Quan Nguyen, Co-founder and CEO of GIMO. “Our team has been incubating a suite of digital financial solutions and expects to launch in the months to come.”
Officially launched in early 2021, GIMO provides earned-wage access and other payroll services to underbanked workers. It also offers on-demand pay solutions for businesses and workers around Vietnam.
Its latest financing follows a year of remarkable growth. With solid 24x year-on-year revenue growth and 11x growth in transaction volumes, the company has delivered a popular financial app to financially-underserved Vietnamese workers.
