GIMO hits first close of Series A at $5.1m led by TNB Aura
By Leandra Monteiro
Vietnam’s FinTech start-up GIMO recently announced the first close of its Series A funding with a $5.1 million investment led by TNB Aura.
Other investment firms joining the round are returning investors including Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures, and Y Combinator.
GIMO’s latest financing follows a year of remarkable growth. With a solid 24x year-on-year revenue growth and an 11x year-on-year transaction volume increase, the company has delivered one of the favourite financial apps for Vietnamese financially underserved workers.
“The fresh capital will bolster our product innovation that appeals to the underserved workers and drive revenue growth. Our team has been incubating a suite of digital financial solutions and expect to launch in the months to come,” said Quan Nguyen, Co-founder and CEO at GIMO.
In 2021, the start-up secured a $1.9 million Seed extension round and is currently in the process of raising debt capital.
GIMO is a FinTech startup offering on-demand pay solution for businesses and workers across Vietnam. It is also a digital financial solution provider. It strives to better the financial lives of the Vietnamese financially underserved, first with on-demand pay. Currently, nearly 500,000 workers from approximately 100 businesses are getting on-demand access to their earned wages with GIMO.
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