GIMO user interface. Screenshot from GIMO website
Vietnamese on-demand payroll startup GIMO has raised $4.6 million in Series A funding.
The startup, which offers near-instant payroll whenever blue-collar workers need it, has secured cash from the likes of Southeast Asia-focused venture capital firm TNB Aura. deal street asia report.
In 2021, the company has raised $1.9 million from a group of investors led by Integra Partners.
With GIMO, employees have near-instantaneous access to payroll via a mobile app that integrates with the company’s payroll system. Users can also track workdays and daily earnings.
According to last month’s Vietnam Venture Summit 2022, 39 investment funds will invest $1.5 billion in creative startups in Vietnam by 2025, with total investment in the sector rising to $5 billion over the next three years.
Vietnamese startups have attracted more than $1.3 billion in investment in 2021. That’s four times more than the previous year, according to the National Technology Entrepreneurship and Commercial Development Authority.