Vietnamese investment app Infina announced today that it has received US$2 million in an oversubscribed seed round of financing from a slew of investors.
The list includes Saison Capital, Venturra Discovery, 1982 Ventures, 500 Startups, and Nextrans, besides unnamed executives at Google and Netflix, and other angel investors.
With the new funding, Infina aims to fuel its growth and expand its product offerings.
Vietnam has been seeing a surge in the retail investing space since the pandemic. According to the Vietnam Securities Depository, 500,000 trading accounts were opened in the first five months of 2021, leading to a 20 per cent increase since 2020.
While the majority of Vietnamese previously let their money sit in risk-free checking accounts or in long-term real estate, millennial investors are now shifting toward higher-yield asset categories with smaller required investments.
“To address that demand Infina is building the ‘Robinhood of Vietnam’ to make investment accessible, easy, and engaging for the country’s middle and lower classes,” Infina co-founder James Vuong said.
Launched early this year, Infina is owned by RealStake that helps people invest in real estate, stocks, and mutual funds starting from as low as US$25.
Infina current financial partners include Dragon Capital Vietnam, ACB Capital, Mirae Asset Fund Management, and Viet Capital Asset Management.
“Retail investing in Vietnam is at an inflection point and we have seen multiple other emerging markets reach this break-out point. With an experienced team that is passionate about financial literacy and education, Infina is well-positioned to ride this wave of growth,” said Chris Sirise, Partner of Saison Capital.
“Vietnam is the most promising market in Southeast Asia for the next wave of retail investing. Infina is at the forefront of the retail investing revolution in Vietnam and has quickly become the most trusted brand with millennial investors. Their commitment and experience building online communities is the key differentiator that makes Infina special,” added Herston Powers, Managing Partner of 1982 Ventures.
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