Kredivo Group takes over digital banking platform Timo

The acquisition represents an important step in Kredivo’s regional expansion strategy, deepening its presence in Vietnam and accelerating the group’s ambition to cement its position as the region’s preeminent digital financial services platform, spanning both digital consumer credit and digital banking.

Founded in 2015, Timo is Vietnam’s first digital banking platform, serving a rapidly expanding base of digitally native customers with a suite of retail banking services.

Phoenix Holdings and Vina Capital, Timo’s strategic shareholders prior to Kredivo’s acquisition, will retain a significant minority stake in the enlarged Kredivo Vietnam business, which now includes Timo.