Together Funding Forms Partnership with Vietnamese P2P Platform 'Tima'

[Asia Economy Reporter Song Seung-seop] P2P company Together Funding announced on the 25th that it has signed a partnership with 'Tima,' the largest P2P company in Vietnam.

Together Funding stated, "Tima is so large that its cumulative loan amount reaches 3.3 trillion KRW," adding, "We will continue to establish business agreements with overseas P2P companies and actively promote attracting foreign investors and expanding into overseas markets."

According to the industry, Vietnam's fintech market has rapidly grown in recent years due to the fast increase in the middle-class population and the high penetration of smartphones and the internet. Currently, about 20 P2P companies are known to be operating in Vietnam, and it is analyzed that the related industry is growing even faster due to the spread of COVID-19 and the development of digital payment systems.

Together Funding expects to utilize technologies owned by Tima, such as principal and interest repayment methods using electronic wallets, through this partnership. Kim Hang-joo, CEO of Together Funding, said, "Together Funding has been steadily engaging with Southeast Asian P2P companies to promote overseas business expansion," adding, "We will gain financial know-how from rapidly growing P2P companies in the Southeast Asian market."

This content was produced with the assistance of AI translation services.