Vietnam-based Infina, an investment platform, or “ Robinhood of Vietnam ” as it calls itself, raised USD 2 Million in a seed funding round, ended with two closes. This funding round was led by Ventura Discovery, Saison Capital, Nextrans, 1982 Ventures, 500 Startups, and some of the angel investors from Netflix and Google.
The freshly raised capital will be used to hire more workforce and develop and optimize the company’s KYC system.
Words from the investors –
In a statement about the investment made by Saison Capital, its partner, Chris Sirise said, “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.”
About Infina –
Infina launched its application in 2021. The platform has a user base of 25-40 and is for those who are looking for an alternative to investing in long-term assets, i.e Real Estate. The minimum contribution required of USD 25 to start an investment in the assets including term deposit, real estate, saving accounts, mutual funds, and term deposit. The
The founder and CEO of Infina, said that the company is working with ACB Capital, Viet Capital Asset Management, Dragon Capital, and Mirae Asset Fund Management. Infina noted that in Vietnam only 3.2% of the total population invest in stocks. But as the Vietnam Securities Depository stated that 500,000 trading accounts were opened in the first half of 2021.
“A majority of our users are new investors,” said Vuong. “Although they are familiar with savings, fixed income or mutual fund investing are relatively new to them.” The app’s interface and content is geared toward them.
During this lockdown many internet users began to opt for digital services, including investments. The Vietnam’s Central Bank has lowered some interest rates to aid businesses during this time of crisis, which led many retail investors to seek higher returns that term deposits, Voung said.
“We are very transparent in communications on risk and returns, profits and fees, and that’s our advantage compared to other platforms,” said Vuong. “Part of the new funding will be used to hire people with technical and investment backgrounds to further develop Infina’s KYC system to better analyze their risk appetite, as well as its system for evaluating each asset class.” – he added.
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