Gimo, a Hanoi, Vietnam – based fintech startup offering on-demand pay for blue-collar workers, raised $1.9m in Seed+ funding.
The round was led by Integra Partners with participation from Resolution Ventures, Blauwpark Partners, and TNB Aura VN Scout.
The company intends to use the funds to:
- expand operations, hiring senior engineers, strengthening risk management competencies,
- grow its business reach in Southeast Asia, and
- integrate advanced technologies such as data analytics and artificial intelligence to enhance customer experiences.
Led by CEO Nguyen Anh Quan, and officially rolled out in early 2021, Gimo is an on-demand pay solution provider that allows employees to access their earned salary instantly via a mobile app integrated with a payroll system. Users can also keep track of their workdays and daily earnings in real-time, as well as receive personal finance tips.
To date, Gimo has provided on-demand pay for more than 25,000 workers, mainly in manufacturing and retail sectors. In the long run, the company is set to build a digital financial platform that empowers blue-collar workers to organize their money, from paychecks to spending, savings, and investments.
Earlier in March, Gimo had announced an undisclosed amount of seed funding from ThinkZone Ventures, BK Fund, and a group of angel investors.