Vietnam-based fintech startup Kim An has raised an undisclosed amount of funding in a Series A round held in September 2020, from Patamar Capital, Viet Capital Ventures and East Ventures.
Proceeds from the funding round will be used to develop the startup’s core technology, enhance its credit scoring platform and facilitate better connections between financial establishments and customers in Vietnam.
The startup helps connect banks and financial institutions in Vietnam to micro, small and medium enterprises (MSMEs) via a digital platform. Its branches are present in over 80 nations worldwide. It provides flexible & personalized booking for repayment at daily, weekly & monthly interval that matches an enterprises’ business cash flow. All its main functions in sales, credit scoring, and loan managing are performed in apps that provide real-time data for credit choices with financial institutions.
MSMEs are the backbone of the Vietnamese economy and very few companies have been able to cater to their needs effectively in Vietnam, according to Shuyin Tang of Patamar. However, she adds that Kim An is one such company that has been able to serve MSMEs efficiently. As a tech-driven fintech company, Kim An has been able to help the financial establishments and banks in Vietnam and hence proves that it has proficient competences. “With the investment from this round and through leveraging technology, we believe Kim An is poised to scale rapidly to meet the tremendous demand in the market”, she was quoted to say.
Kim An Group has signed contracts with Nam A Bank and FE Credit to develop co-operation and enable consumer loans for individual users, household businesses, and micro-enterprises.
Binh Duc Hanh, CSO at Kim An Group said, “After nearly two years of partnership with financial institutions, more than 25K have been disbursed to customers through Kim An Group.” The startup aims to encourage financial inclusion in Vietnam by developing and leveraging the technical capabilities of the credit institutions to bring their finest products and services to customers.
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