GIMO Analysis: $5M Raised
What is GIMO?
Gimo is a Vietnamese employee welfare platform that gives workers early access to earned wages and related financial services. The company presents itself as a trusted digital welfare platform for workers and businesses, with a stated mission to improve financial health and quality of life. Its homepage says more than 700,000 Vietnamese workers have used the platform.
Location
37 Le Van Thiem, Thanh Xuan, Hanoi, Vietnam
Employees
51-200
Founded
2019
Revenue
$7-8.4M
Investors
- TNB Aura
- Genting Ventures
- Other undisclosed investors
Product Features & Capabilities
- On-demand pay access, real-time earnings tracking, financial education resources, HR data management dashboard, transparent transaction monitoring.
How much GIMO raised
Series A - $5.1 million
February 14, 2023Lead Investor: TNB Aura
Who are the founders of GIMO
QN
Quan Nguyen
Founder, CEO
Market Focus
GIMO primarily focuses on the fintech industry, providing flexible pay and financial well-being solutions that allow employees to access their earned wages before payday.
Business Model
Revenue from transaction fees and partnerships with employers for financial services.
Competitors Overview
GIMO operates in the fintech sector, focusing on flexible pay and financial well-being solutions. Its main competitors include:
-
Hastee: Offers an on-demand earnings platform that allows employees to access their earned wages before payday. Hastee emphasizes financial wellness and provides a user-friendly app for employees to manage their earnings.
-
DailyPay: A pioneer in earned wage access, DailyPay allows employees to access their wages in real-time. It is widely recognized for its extensive partnerships across various industries, enhancing its market presence.
-
PayActiv: Provides a similar service, allowing employees to access earned wages before payday. PayActiv also offers financial wellness tools, including budgeting and savings features, which can be an advantage over GIMO.
-
EarnIn: This app allows users to access their earned wages without waiting for payday, focusing on providing a lower-cost alternative to traditional credit. EarnIn's model is based on user tips, which can attract users looking for flexible payment options.
-
Wagestream: Offers a platform for employees to access their earned wages and includes features for financial education and savings. Wagestream's focus on financial literacy can be a notable advantage in promoting overall financial well-being.
These competitors differ in their specific features, user engagement strategies, and additional services offered, such as financial education and budgeting tools, which may provide them with advantages in attracting users compared to GIMO.
See something that needs updating? Suggest edits to this profile.