GIMO, a Vietnam-based startup providing flexible pay and financial well-being solutions for underbanked workers, announced on July 24 the completion of a Series A funding round with total capital of up to $17.1 million raised.

The final closing, comprised of a mixture of equity and debt financing, came only five months after the company secured $5.1 million in the first close. The round is led by TNB Aura, with the participation of the company’s existing backers, including Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures, and Y Combinator. New investors include global corporate ventures such as Genting Ventures, TKG Taekwang, and George Kent, and the Asia-focused private credit financier, AlteriQ Global.

The investment will be utilized to fast-track the company’s expansion plans and drive innovation across its product portfolio, including product development, customer success, and strategic partnerships. “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 Mr. Quan Nguyen, Co-founder and CEO of GIMO. “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.”

“We look forward to working closely with the GIMO team in breaking down barriers to financial inclusion for millions of blue-collar workers in Vietnam,” said Mr. Charles Wong, Founding Partner of TNB Aura. “Especially in challenging macro-economic times such as these, GIMO’s mission to empower workers to ‘Live Better. Work Happier’ is even more critical.”

Mr. Zhi Yong Heng, Managing Partner at AlteriQ Global, believes that Vietnam is ripe for the adoption of Earned Wage Access, which will drive financial inclusion and stability for the underserved. “Our decision to support GIMO marks our debut in Vietnam, and we are excited to work with Quan and his team to scale their operations and create a positive impact on the financial well-being of underserved communities,” he said.

Source: VNECONOMY