Kredivo Group takes over digital banking platform Timo

May 06, 2026 | 17:37

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On May 5, digital financial services platform Kredivo Group announced the acquisition of Timo Digital Bank, a Vietnamese platform developed by BV Bank.

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.

Henry Nguyen, chairman of Phoenix Holdings, Don Lam, CEO and founding partner of VinaCapital, and Brook Taylor, CEO of the asset management arm of VinaCapital, will join the board of Kredivo Vietnam.

Akshay Garg, co-founder and CEO of Kredivo Group, said the acquisition is an important moment for the company.

"Vietnam is a market of enormous potential, with a young, mobile-first population and significant unmet demand for high-quality, accessible financial services," Garg said. "With Timo, we are acquiring a beloved brand that has already done the hard work of building trust with Vietnamese consumers. Together with Phoenix Holdings and VinaCapital, we will accelerate our mission of bringing fast, affordable, and accessible financial services to millions of customers in Vietnam in the next few years."

Henry Nguyen, chairman of Phoenix Holdings, added, "Kredivo has built an impressive business in Southeast Asia, backed by strong lending expertise and operational excellence. We believe the combination of Kredivo's advanced credit capabilities and Timo's trusted digital banking platform in Vietnam creates a highly compelling strategic fit."

The acquisition deepens the group's footprint in Vietnam, where, in cooperation with local banking partners, it already operates Kredivo's fast-growing digital consumer credit platform – offering buy now, pay later and personal loans – in the country. By combining Kredivo's advanced real-time credit decisioning and risk management capabilities with Timo's full-service digital banking platform, the group is positioned to offer Vietnamese consumers a comprehensive, integrated financial ecosystem spanning credit, payments, savings, and more.

The Timo acquisition follows a period of significant regional momentum for Kredivo Group, which now operates across Indonesia, Vietnam, and Thailand, and has built a portfolio of complementary businesses spanning consumer credit (Kredivo), digital banking (Krom in Indonesia; Timo in Vietnam), and working capital financing for small- and medium-sized enterprises (GajiGesa).

With approximately $500 million raised to date from a world-class group of financial and strategic investors, Kredivo Group is well positioned to execute on its regional ambitions of serving tens of millions of users in Southeast Asia with fast, affordable and accessible financial services, leaders said.

Post-acquisition, Timo will continue to operate under its own brand as Kredivo Group's digital banking franchise in Vietnam and the existing Kredivo Vietnam business will rebrand to Timo Credit. The existing management team of Kredivo Vietnam will run the joint business, supported by the group's technology, capital, and regional expertise.

Indonesia's Kredivo acquires digital bank Timo

Indonesian fintech firm Kredivo has acquired Vietnamese digital bank Timo as part of its strategy to expand banking services in the country and the region.

Kredivo closes $270m Series D equity round

Kredivo Holdings (formerly known as FinAccel), the parent company of Kredivo and Krom Bank Indonesia, has announced it has raised $270 million in equity financing in a significantly oversubscribed round in its Series D funding phase.

Consumers empowered with Kredivo

By continuing to leverage top-notch technologies, fintech group Kredivo is well-positioned to maintain its market triumph in the buy now, pay later (BNPL) market and offer Vietnamese customers with an unparalleled experience, tapping into the country’s rapidly growing e-commerce sector with a convenient and secure way for online payment.

By Thanh Van

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