Posts From Fintech News Vietnam
KASIKORNBANK Doubling Down on Vietnam Expansion Efforts
KASIKORNBANK (KBank) is doubling down on the expansion of its operations in Vietnam, setting its sights to achieve US$400 million in net income and a customer base of 8.4 million in Vietnam by 2027. The bank had already established a
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UOB Completes Citi’s Consumer Banking Acquisition Deal in Vietnam
UOB has finalised the acquisition of Citigroup’s consumer banking business which comprises its lending portfolios, wealth management and retail deposit businesses in Vietnam. The completion of the acquisition had also included the transfer of approximately 575 Citigroup related staff to
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In Vietnam, Rural Adoption Is the Driving Force for Cashless Payments
In 2022, cashless payments continued to see increased usage in Vietnam, carrying on a trend that accelerated with the COVID-19 pandemic. This trend is emerging at the expense of cash usage which continued its decline last year. In 2022, non-cash
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Vietnam’s Earned Wage Access Firm GIMO Closes US$5.1 Million Series A
Vietnam-based earned wage access startup GIMO raised US$5.1 million in the first close of its Series A funding round led by TNB Aura. The round was joined by returning investors Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures, and Y
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Masan Group’s Subsidiary Invests US$105 Million in Singapore’s Trust IQ
Vietnamese conglomerate Masan Group’s subsidiary the Sherpa Company has received the green light to invest US$105 million in Singapore’s tech company Trust IQ, the holding company of Trusting Social. The announcement of Masan’s investment was made in April 2022. Sherpa will
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IFC Invests US$100M in Vietnamese Bank to Expand Access to Home Loans
The International Finance Corporation (IFC) has invested US$100 million investment in Joint Stock Commercial Bank Southeast Asia (SeABank) in a push to create greater access to home loans in Vietnam. With this investment, SeABank is expected to at least double
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Gojek Appoints Sumit Rathor as the General Manager for Vietnam
Southeast Asian ride-hailing company Gojek announced that it has appointed Sumit Rathor as the General Manager for Vietnam. Sumit will be succeeding Duc Phung who is the Co-founder and former General Manager of Gojek Vietnam since 2020. Phung will be
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UOB Vietnam Partners Mental Health Startup Intellect to Support Its SME Customers
UOB Vietnam has partnered with mental wellness tech company Intellect to enable its small and medium-sized enterprise (SME) customers to provide well-being support for their employees. The bank said that it aims to develop resilience amongst SMEs which form nearly
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Grab Taps Alejandro Osorio to Lead Its Next Phase of Growth in Vietnam
Southeast Asian superapp Grab announced the appointment of Alejandro Osorio as its Managing Director in Vietnam. In his new role, Alejandro will be overseeing the business strategy and operations across all of Grab’s businesses in the country. Alejandro most recently
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Vietnam’s VC Market Matures as Investments Reach Record Highs
2021 was a record year for venture capital (VC) investments in Vietnam, driven by a maturing technology startup ecosystem, an increasing number of later stage investments, and rising participation from both local and foreign investors eager to tap into Vietnam’s
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