MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Digital Bank Timo Secures $20 Million in Funding

Digital Bank Timo Secures $20 Million in Funding

The funding was led by Square Peg

Vietnam's first digital bank Timo has secured $20 million in funding. The investment round was led by Square Peg with participation from Granite Oak, FinAccel, Jungle Ventures, Phoenix Holdings and other angels.

"This funding round is not only a signal that digital banking is the future in Vietnam, but It also demonstrates investors' confidence that Timo is leading this important sector. We are deeply committed to our mission of setting the benchmark for modern banking in Vietnam while bringing greater financial inclusion and accessibility to the large majority of the population which remains unbanked. Timo aims to become the bank that is at the center of our customers' financial lives. We are delighted to have world class investors led by Square Peg joining us on our journey," said Henry Nguyen, CEO Timo Digital Bank.

Timo was established in 2015 and has rapidly grown in stature in Vietnam to be the leading digital bank.   The digital bank's efforts have been recognized by many honors including being named in the Top 50 FDI Enterprises in Vietnam 2021 as the "Leading Digital Banking Platform in Vietnam" by the Golden Dragon Awards and "Best Digital Bank in Vietnam 2021" voted by International Business Magazine.

YOU MAY ALSO LIKE

Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

RECOMMENDED