Vietnam-based neobank Timo has raised $20 million in an investment round led by Square Peg, which has backed a spate of fintech players such as FinAccel, StashAway, Pluang and Airwallex across Asia.

The Canadian firm also forged a three-year insurtech partnership with GOFS. Timo also claims it is amongst the first banks in Vietnam to offer e-KYC. In another partnership in 2017, Canada’s Sun Life Financial acquired a 25% stake in Crescent Asia Limited, the holding company of Global Online Financial Solutions (GOFS), which operates Timo. Established in 2015, Timo is Vietnam’s first digital bank offering services ranging from payments, cards, to investment, insurance and installment.

Vietnamese Neobank Timo Raises $20M In Square Peg-Led Round

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Vietnamese Neobank Timo Raises $20M In Square Peg-Led Round

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