Retail funding apps in Southeast Asia attracted a variety of funding final 12 months, and the development appears to be like set to proceed with Vietnam-focused Infina saying that it has added $4 million to its seed funding. Together with the $2 million it introduced in June, this brings the spherical’s complete to $6 million.
Traders embody Sequoia Capital India’s Surge program, Y Combinator, Saison Capital, Starling Ventures, Alpha JWC and AppWorks.
Infina was a part of Y Combinator’s Summer season 2021 cohort and aspires to turn out to be the “Robinhood of Vietnam.” It launched in January 2021.
Like different Southeast Asian funding apps which have attracted enterprise capital over the previous 12 months (a partial listing embody Indonesia’s Pluang, which just lately raised a $55 million follow-on to its Collection B, Bibit, Ajaib, Pintu and Syfe), Infina is concentrated on first-time Gen Z and millennial buyers.
Extra Vietnamese individuals started taking part within the inventory market final 12 months, pushed partly by a bounce out there worth of publicly traded corporations. Infina says it noticed a compound month-to-month development charge of 64% in funded accounts in 2021.
The app permits buyers to select from a number of asset lessons, together with fixed-income merchandise, mutual funds and inventory buying and selling. It additionally affords fractionalized buying and selling, which implies customers can make investments with decrease minimal quantities. A part of the rationale for Infina’s development is its integration in third-party tremendous apps, together with e-commerce app Tiki.