Tima
TIMA begin participating financial markets technology from 2015 as a provider of technology lending platform peer (P2P) first in Vietnam.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
$3.0m Valuation: $17.0m | Series B | ||
| Total Funding | 000k | ||
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Tima, established in 2015 with an initial investment of VND 150 billion, operates as a financial marketplace and peer-to-peer (P2P) lending platform in Vietnam. Co-founded by Cong Tran and Thuc Nguyen, who also serves as the CEO, the company positioned itself as a pioneer in the country's P2P lending sector. Cong Tran has also been involved in founding other ventures, including Caramo, F88, and BankGo. Tima aims to address the significant unbanked population in Vietnam by connecting individual borrowers with lenders through its digital platform.
The company's business model is centered on a consumer finance marketplace that facilitates the connection between borrowers and lenders for various loan products, with a popular loan size around $350. Revenue is generated through a freemium model directed at lenders. While a basic service level is offered free of charge, lenders must pay for additional features. A comprehensive package provides full support throughout the lending process, including application processing, credit scoring, disbursement, and debt collection, in exchange for a revenue share with Tima. The platform utilizes its own credit scoring technology, which incorporates artificial intelligence, and seeks to enhance its data sources through partnerships with telecommunication companies, insurance firms, and utility providers.
Since its launch, Tima has expanded its reach across Vietnam's 63 cities and provinces. A key part of its strategy involves an online-to-offline (O2O) approach, establishing physical consulting points to tap into the population without regular internet access. The company has secured several funding rounds, including a Series A from Dunearn Singapore Fund and G Capital in 2016, and a $3 million Series B round in 2018 led by Belt Road Capital Management, which valued the company at nearly $20 million. Tima has also formed strategic partnerships to bolster its services, including a collaboration with VietinBank Insurance to provide loan protection for borrowers and with Nam A Bank to manage lender funds and streamline the disbursement and repayment process. In 2019, the company further strengthened its board by adding John Donovan, a co-founder of the US P2P lending platform LendingClub.
Keywords: Tima, P2P lending Vietnam, fintech, financial marketplace, consumer finance, peer-to-peer lending, Cong Tran, Thuc Nguyen, loan connection, credit scoring, online lending, financial technology, Vietnam startup, Belt Road Capital Management, Dunearn Singapore Fund, G Capital, VietinBank Insurance, Nam A Bank, online-to-offline, digital lending, microloans, personal finance, investment platform, borrower connection