Vietnamese FinTech startup GIMO, which offers on-demand pay for blue-collar workers, has raised $1.9m in a seed+ round led by Singapore’s Integra Partners.
The round also saw participation from Resolution Ventures, Blauwpark Partners and TNB Aura VN Scout.
With the funding, GIMO said it plans to allocate more resources into hiring senior engineers, strengthening risk management competencies and integrating advanced technologies such as data analytics and artificial intelligence to enhance customer experiences.
Moreover, according to GIMO’s co-founder and CEO Nguyen Anh Quan, the funding will help the company improve the financial stability and resilience of blue-collar workers, as well as fast-track financial inclusion in Southeast Asia.
Launched officially in early 2021, GIMO allows employees to access their earned salary almost instantly via a mobile app integrated with the company’s payroll system. Users can also keep track of their workdays and daily earnings in real-time, as well as receive personal finance tips.
Earlier in March, the company just announced an undisclosed amount of seed funding from ThinkZone Ventures, BK Fund, and a group of angel investors.
Anh Quan said, “Blue-collar workers are among the most vulnerable to financial distress. When unexpected bills arise, they don’t have a lot of safe and affordable options. GIMO looks to change that. By helping workers get paid as they earn it, we hope to give them the peace of mind to focus on what matters.”
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