Kim An raises Series A to optimize financial institutions in Vietnam
From Kim An Group’s MoUs signing ceremony. Photo: Kim An
The use of proceeds raised from the three leading venture funds in Vietnam is to further develop Kim An’s core technology system to process data, to optimize the company’s credit scoring platform and to better connect customers to financial institutions in Vietnam, it said in a statement sent to Vietnam Business Review.
Kim An connects banks and financial companies in Vietnam with local micro, small and medium enterprises through an online platform as well as its 80-plus branches nationwide.
There is widespread interest in providing financial services to micro, small and medium enterprises, the backbone of the Vietnamese economy. However, while interest is high, very few have cracked the code in terms of how to serve this segment effectively, said Shuyin Tang of Patamar.
“Kim An is one of those rare companies that have done so… 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 said.
Regarding its cooperation with credit institutions, Kim An Group will sign partnership agreements with Nam A Bank and FE Credit, a financial company under Vietnam Prosperity Joint Stock Commercial Bank to expand the scope of cooperation and develop consumer loans for individual customers, household business, micro enterprises.
Additionally, Kim An Group has signed partnerships with Nam A Bank and FE Credit to expand the scope of co-operation and develop consumer loans for individual customers, household business, and micro enterprises.