Vietnam’s fintech start-up GIMO has on Tuesday 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 said in a statement.
GIMO’s latest financing follows a year of remarkable growth. With a solid 24 times year-on-year revenue growth and an 11 times 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 Chief Executive Officer 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.