Singapore-based digital media platform Tech in Asia reported the deal on March 12, citing sources familiar with the matter. Final paperwork has been signed, according to the report, but the transaction has yet to be officially disclosed, and its value remains unknown.

Following the deal, Kredivo plans to pour $15 million into the Vietnamese market in the next three years. The 'buy now, pay later' company aims to capitalise on one of the fastest-growing fintech markets in the region.

Akshay Garg, co-founder and CEO of Kredivo Group, will oversee the overall operations of the merged entity. The Timo brand is expected to be retained, with Kredivo’s Vietnam operations likely to be consolidated under it over time.

The integration will be implemented in two phase. In the first phase, it involves migrating Kredivo’s lending technology into Timo’s platform. In the second phase, Kredivo will roll out new financial offerings built around card-based payment solutions.

The acquisition will allow Kredivo to integrate lending with banking services as competition intensifies among Southeast Asia’s fintech players.

Vietnam's fintech market is valued at $4.33 billion in 2026 and is projected to reach $8.85 billion by 2031, growing at a compound annual rate of around 15.4 per cent, according to Mordor Intelligence.

The growth is driven by a strong domestic digital payment ecosystem, which has expanded significantly on-year. The introduction of a fintech sandbox has also allowed innovative financial products to scale in a controlled environment.

Broader financial inclusion is contributing to market expansion, with more individuals gaining access to bank accounts. Digital platforms and banks have accelerated adoption by offering accessible, user-friendly fintech solutions. Growing consumer trust in digital payments, supported by secure and well-regulated systems, continues to strengthen the market.