MobiVi, a Vietnam-based company building an employee-benefit delivery platform for factory workers, received an investment from Unitus Impact, a venture capital firm focused on improving the livelihoods of the working poor.
The amount of the deal was not disclosed.
The company is using the funds to solidify partnerships with large multinational clients and scale the platform.
Led by CEO Trung Dung, MobiVi partners with multinational companies and their factories to provide Vietnam-based workers with low-cost installment finance to purchase important life-enhancing products (e.g., mobile phones, basic appliances). Clients have already purchased thousands of items and accessed thousands of loans using their employment status as the primary credit qualifier.
Other backers in the company include Sumitomo Mitsui Banking Corporation, Experian (LON:EXPN) and Kusto Tiger Fund.