YKVN advised Kredivo Group on its acquisition of Timo Digital Bank

YKVN advised Kredivo Group, Southeast Asia’s leading digital financial services platform, as lead counsel on its ~100% acquisition of Timo Digital Bank, Vietnam’s first digital banking platform, developed in cooperation with BVBank.

The transaction marks a significant step in Kredivo Group’s strategy to build an integrated digital financial services ecosystem in Vietnam. Following the acquisition, Timo will continue to operate under its own brand as Kredivo Group’s digital banking franchise in Vietnam, while the existing Kredivo Vietnam business will rebrand to Timo Credit. Founded in 2015, Timo offers a suite of retail banking services, including instant account opening, payments, savings and time deposits, to a growing base of digitally native consumers.

By combining Kredivo Group’s real-time credit decisioning capabilities with Timo’s full-service digital banking platform, the transaction positions the Group to offer Vietnamese consumers an integrated financial ecosystem spanning credit, payments, savings and digital banking services.

The YKVN team was led by partners Ho Anh Tuyet and Nguyen Thu Hang, with support from senior associate Le Huynh Nhat Minh.

For more information about the transaction, please see Kredivo Group’s announcement here.