Vietnam-focused investment app Infina raises its seed round to $6 million – Techdoxx

Deepak Gupta
Deepak Gupta February 8, 2022
Updated 2022/02/08 at 3:04 AM

Retail investment apps in Southeast Asia have attracted a lot of funding over the past year, and the trend appears to continue with a focus on Vietnam. infinite announcing that it has added $4 million to its seed funding. Along with the $2 million announced in June, this brings the total for the round to $6 million.

Investors include Sequoia Capital India’s Surge program, Y Combinator, Saison Capital, Starling Ventures, Alpha JWC and AppWorks.

Infina was part of Y Combinator’s Summer 2021 cohort and aspires to become the “Robinhood of Vietnam”. It was released in January 2021.

Like other Southeast Asian investment apps that have attracted venture capital in the past year (a partial list includes Indonesia’s Pluang, which recently raised $55 million in the wake of its Series B, Bibit, Ajaib, Pintu, and Syfe), Infina is focused on Gen Z and millennial first-time investors.

More Vietnamese started participating in the stock market last year, driven in part for a jump in the market value of publicly traded companies. Infina says it saw a 64% compound monthly growth rate on funded accounts in 2021.

The app allows investors to choose from multiple asset classes, including fixed income products, mutual funds and equity trading. It also offers fractional trading which means users can invest with lower minimum amounts. Part of the reason for Infina’s growth is its integration into third-party super apps, including the Tiki e-commerce app.

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