Business

Vietnamese fintech platform receives fund from Singapore

Tima, a Vietnamese peer-to-peer (P2P) lending tech platform, successfully gathered Series A funds from a Singaporean investor.
Hanoi (VNA) - Tima, aVietnamese peer-to-peer (P2P) lending tech platform, successfully gatheredSeries A funds from a Singaporean investor.

Despite not revealing the name of theinvestor and the deal details, a representative of Tima revealed toDealStreerAsia that the deal was closed at a seven-figure US dollars and willboost the company’s growth in Vietnam.

Launched in 2015, the lending platform hasmobilised 2.5 trillion VND, equivalent to 115.5 million USD, from its lendingpartners.

“We have localised the LendingClub model sothat it works for the Vietnam market. We have shown investors our businessverticals and licenses: they work properly,” a co-founder of Tima, toldDealStreerAsia, addressing the legal environment for P2P lending in thecountry.

Tima works with 967 lenders--financialunits, investors and credit institutions. More than two million transactionshave been carried out on the platform.

A number of Vietnamese fintech startupshave secured venture capital funding this year, including e-wallets MoMo andBankGo.

Money Lover, an app that allows users totrack their finance information, was also recognised as the best disruptor in2016 by the Ricebowl Startup Awards.-VNA
VNA
#Tima #peer-to-peer #lending tech platform #fintech startups
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