Timo Secures $20M in Funding


Timo Digital Bank, a Ho Chi Minh City, Vietnam-based digital bank, secured $20m in funding.

The round was led by Square Peg, with participation from Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (existing investor) and other angels.

The company intends to use the funds to expand operations and its business reach.

Established in 2015 by Henry Nguyen, CEO, Timo is a digital bank. In 2019, the company announced a strategic partnership with Viet Capital Bank.