Vietnam's Fintech Startup GIMO Receives Investment

GIMO is a leading Vietnam-based fintech company specializing in providing flexible payment and financial well-being solutions for underbanked employees. The company announced the successful completion of its Series A financing round, raising a significant capital increase of up to $17.1 million.

Led by TNB Aura, the Series A round saw enthusiastic participation from GIMO's existing backers, including Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures and Y Combinator. The round also attracted interest from renowned global corporate ventures such as Genting Ventures, TKG Taekwang, George Kent and Asia-focused private lender AlteriQ Global.

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GIMO

GIMO currently serves 500,000 workers from medium to large-sized multinational manufacturing companies in Vietnam. Despite the economic slowdown in 2023, the company is showing a solid growth rate of 15 percent. And it is on track to reach 2.5 million underemployed workers by 2025. According to the information, the newly raised capital will be used to accelerate GIMO's expansion plans and drive innovation across its diverse product portfolio. GIMO will direct a significant portion of the funds towards increasing its research and development efforts, with product development at the top of its priorities.

Customer success remains a key focus for GIMO. A portion of the investment is dedicated to enhancing customer support startups, ensuring that users receive the highest quality of service from the company. In addition, GIMO is leveraging its newfound capital to create strategic alliances with key partners and industry leaders. These partnerships, which foster collaboration and create synergies, will facilitate the launch of new social impact startups.