Vietnamese FinTech company GIMO, which offers earned-wage access, has reportedly raised $4.6m in its Series A funding round.
The investment was led by Southeast Asia-focused venture capital firm TNB Aura, according to a report from Nikkei Asia. Of the total Series A capital, $3m was supplied by TNB.
Other investments to the Series A came from Integra Partners, ThinkZone Ventures and Resolution Ventures.
As part of the deal, TNB Aura co-founder and managing partner Charles Wong and Integra Partners partner Jennifer Ho will join the GIMO board of directors.
The FinTech company is reportedly looking to improve its financial stability, hire senior engineers and integrate advanced technologies, such as data analytics and AI.
GIMO, which launched in 2021, allows employees to access their earned salary almost instantly via a mobile app integrated to the company’s payroll system. Users can track their workdays and daily earnings in real-time.
GIMO previously raised $1.9m in its seed+ round last year, which was led by Integra Partners.
Other Vietnamese FinTech companies to raise capital last year were MFast and Finhay.
MFast is a mobile app that helps consumers improve their income by performing online jobs. It raised $2.5m for its latest funding round.
Finhay, which secured $25m in its Series B, offers consumers easy digital access to financial services.
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