Tima, a Vietnamese peer-to-peer (P2P) lending tech platform, successfully gathered Series A funds from a Singaporean investor.

Despite not revealing the name of the investor and the deal details, a representative of Tima revealed to DealStreerAsia that the deal was closed at a seven-figure US dollars and will boost the company’s growth in Viet Nam.

Launched in 2015, the lending platform has mobilised VND2.5 trillion, equivalent to US$115.5 million, from its lending partners.

“We have localised the LendingClub model so that it works for the Viet Nam market. We have shown investors our business verticals and licenses: they work properly,” a co-founder of Tima, told DealStreerAsia, addressing the legal environment for P2P lending in the country.

Tima works with 967 lenders--financial units, investors and credit institutions. More than two million transactions have been carried out on the platform.

A number of Vietnamese fintech startups have secured venture capital funding this year, including e-wallets MoMo and BankGo.

Money Lover, an app that allows users to track their finance information, was also recognised as the best disruptor in 2016 by the Ricebowl Startup Awards. — VNS