P2P Loan Company Raises $ 3 Million in Funding – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Tima has 23,775 lenders and 2,133,405 borrowers on its platforms. – Photo Tima
News from Viet Nam

HÀ NỘI – Tima, Việt Nam’s financial center and peer-to-peer (P2P) lending platform, has raised US $ 3 million in Series B funding from Belt Road Capital Management (BRCM), a Greater Mekong-focused private equity fund, Tima said on Monday. .

The latest investment valued Vietnam’s leading consumer credit marketplace and P2P lending platform at nearly $ 20 million. The company, which was formed in 2015, raised a Series A round in 2016 with Dunearn Singapore Fund and G Capital.

According to Tima, the new funding would be used for its expansion and growth in all 63 cities and provinces of Việt Nam, in addition to investing more in technology and human resources to quickly and easily connect borrowers and lenders to FinTech. .

Tima’s chief executive, Trần Thế VÄ©nh, said the company has garnered a lot of interest from investment funds and foreign companies during this investment cycle.

The company is also considering Series C funding proposals from several large funds and investors who can add value to the company for its ambitious growth and expansion plans.

Tima also officially announced a strategic partnership with VietinBank Insurance Corporation, the insurance arm of Vietinbank.

She will use VietinBank Insurance to make sure borrowers’ money is safe. When borrowers are unfortunately exposed to unexpected risks, VietinBank Insurance will help them repay their loans. VietinBank Insurance solutions will contribute to Tima’s added value and help participants feel reassured when using its P2P lending platform.

Tima, which was named one of the top 10 software and IT services companies in Vietnam by the Vietnam Software Association (Vinasa) in April, has 23,775 lenders and 2,133,405 borrowers on its platforms.

Despite having experienced exponential growth in recent years, the consumer credit market in Việt Nam still has room for development. According to the Banking Strategy Institute of the State Bank of Vit Nam and the financial and trade information company StoxPlus, Vit Nam’s outstanding consumer loans stood at $ 47.84 billion at the end of the year. 2017. – VNS

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