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Infina, To Be Robinhood of Vietnam, raises $4 million

Infina platform allows users to choose from a variety of asset types, such as stock trading, fixed-income products, and mutual funds.

Infina, To Be Robinhood Of Vietnam, Raises $4 Million

Retail investing applications in Southeast Asia received a lot of financing in the last year, and the trend appears to be continuing, with Vietnam-focused Infina reporting an increase in seed capital of $4 million. This raises the round’s total to $6 million, including the $2 million reported in June.

AppWorks, Alpha JWC, Starling Ventures, Saison Capital, Y Combinator, and Sequoia Capital India’s Surge program are among the investors who participated.

Infina is a Y Combinator Summer 2021 cohort member who intends to be the “Robinhood of Vietnam.” It will be available in January 2021. Infina targets first-time millennial and Gen Z investors.

Like other Southeast Asian investing applications that have drawn venture financing in the last year (a partial list includes Indonesia’s Pluang, which just secured a $55 million follow-on to its Series B, Syfe, Pintu, Ajaib and Bibit).

Last year, more Vietnamese citizens began to invest in the stock market, owing in part to a rise in the market price of publicly traded firms. In 2021, Infina says funded accounts grew at a compound monthly growth rate of 64%. 

The software allows users to choose from a variety of asset types, such as stock trading, fixed-income products, and mutual funds. It also provides fractionalized trading, which allows customers to invest with lower minimums. Part of the reason for Infina’s success is its inclusion in third-party mega applications, such as the e-commerce app Tiki.

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