GIMO raises $17.1m Series A funding from venture fund TNB Aura
By Gloria Mathias
GIMO, a Vietnam-based FinTech startup, has announced the completion of a Series A funding round with total capital raise of up to $17.1 million led by TNB Aura.
GIMO claims to serve workers across Vietnam from medium to large multinational manufacturing companies. The company demonstrates a solid growth rate of 15% and is on track to reach 2.5 million underbanked employees by 2025.
Charles Wong, Founding Partner of TNB Aura said, “We look forward to working closely with the GIMO team in breaking down barriers to financial inclusion for millions of blue-collar workers across Vietnam. Especially in challenging macroeconomic times such as these, GIMO’s mission to empower workers to “Live Better. Work Happier” is even more critical.”
The investment will be utilized to track the company’s expansion plans and drive innovation across its product portfolio, namely:
- Product development: GIMO seeks to allocate significant funds to support its research and development efforts. This investment will accelerate product development, introduce more social impact initiatives, and help the underbanked workers to avoid debt traps and loan sharks, improving their financial well-being.
- Customer success: The company remains committed to providing unparalleled customer experiences. A portion of the investment will enhance customer success and support initiatives.
- Strategic partnerships: The startup aims to leverage the funding to forge strategic alliances with key partners and industry leaders. These partnerships will foster collaboration, create synergies, and launch new social impact initiatives.
“We are thrilled to announce the successful closing of our Series A funding round, which demonstrates the unwavering confidence and support we have received from investors”, said Co-founder and CEO Quan Nguyen. “This significant investment will enable us to drive our vision forward, fuel innovation and continue to serve the underserved communities in which we live and operate.”
GIMO is a Vietnam-based social impact FinTech startup providing underbanked workers with flexible pay and financial well-being solutions. The company strives to improve the financial lives of Vietnamese underbanked workers via mobile-enabled financial solutions that start with on-demand pay.
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