Yangon, October 14, 2020
ThitsaWorks is excited to announce a minority investment by BOD Tech Ventures, an investor and operator of early-stage tech companies in Myanmar, Bangladesh, Vietnam, and Cambodia. These funds will allow ThitsaWorks to further scale its operations, and will support ThitsaWorks’ larger goal of furthering Financial Inclusion in Myanmar.
With 70 financial institutions including Banks, Non-Bank Financial Institutions and Microfinance Institutions in Myanmar using ThitsaWorks’ solutions, ThitsaWorks’ services currently benefit over 2.5 million borrowers. With BOD Tech’s new investment, ThitsaWorks will continue its work with financial institutions to provide access to credit for the remaining millions of families in Myanmar that are still in need of microfinance solutions.
John Kaaiohelo, CEO and Chief Investment Officer of BOD Tech Ventures, said, “We are thrilled to invest in Nyi and his team at ThitsaWorks. We believe that ThitsaWorks will accelerate the digital transformation of Myanmar’s financial sector, and are convinced that our investment will further Financial Inclusion in Myanmar’s local communities.”
Nyi Nyein Aye, CEO of ThitsaWorks, added “We are delighted to welcome BOD Tech Ventures as an investor. We believe that digital transformation will help MFIs operate efficiently and effectively, particularly under the current environment brought on by COVID-19. With the support of BOD Tech Ventures, we are excited to scale our operations and increase Financial Inclusion in the country.”
About BOD Tech Ventures - BOD Tech Ventures is an active investor and operator of early-stage tech-enabled companies in Myanmar, Bangladesh, Vietnam, and Cambodia. Founded in 2016, BOD Tech's investments have grown into several of Myanmar's largest technology assets including Hercules (logistics), Flymya (online travel agency), Get (B2B wallet), YangonD2D (food delivery), and mmbusticket (bus ticketing).
Visit BOD Tech Ventures at https://www.bodtechv.com
About ThitsaWorks - ThitsaWorks is a financial technology company based in Yangon. Founded in 2016, ThitsaWorks provides technology solutions for financial institutions to manage risks and run effective operations. ThitsaWorks works with large and small financial institutions in Myanmar to provide individuals with access to financial education, financial information and capital. ThitsaWorks helps financial institutions digitize their operations, access consumer insights and credit analytics of unbanked population. ThitsaWorks manages Pite Pite, a financial inclusion chatbot, that provides digital financial literacy and lead generation services for financial institutions.
Visit ThitsaWorks at https://www.thitsaworks.com
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