Kredivo Achieves 99.99% Ownership of Vietnam's Timo Digital Bank in Major Fintech Expansion

Indonesia's leading BNPL platform Kredivo has secured 99.99% ownership of Vietnam's first digital bank, Timo.

Recent updates to Timo Vietnam JSC’s business license confirm Kredivo Vietnam JSC’s stake at VND898.6 billion, equivalent to $34.1 million.

Acquisition Background and History

The deal follows initial reports in March 2026 of Kredivo Group's acquisition of Timo, marking a strategic push into Vietnam's fintech market.

Kredivo, formerly known as FinAccel, operates as Southeast Asia’s top digital financial services provider through brands like Kredivo, KrediFazz, and Krom.

Timo originated in 2015 as Lifestyle Project Management, a fintech firm, and formed a key partnership with BVBank in 2020 to become Vietnam's pioneering digital bank.

Prior to the takeover, Kredivo Vietnam was established in 2021 and initially held by local firm Phoenix Holdings.

Impact and Future Prospects

This acquisition enables Kredivo to blend its buy-now-pay-later expertise with Timo's banking infrastructure, enhancing services in one of Southeast Asia's fastest-growing economies.

Vietnam's digital banking sector is experiencing rapid growth, positioning the combined entity for significant market expansion.

Looking ahead, Kredivo plans a high-profile public listing via a $2.5 billion SPAC merger to fuel further regional ambitions.

The move underscores intensifying competition among Southeast Asian fintech giants vying for full-stack financial dominance.