Digital Banking

Digital bank Timo earns $20M in funding

January 11, 2022

Timo, the first digital bank in Vietnam, has completed a $20 million round of funding led by global investment firm Square Peg. Timo offers electronic-know-your-customer services to help improve access to banking, according to a press release.

"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," Henry Nguyen, CEO, Timo, said in the release. "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."