Vietnam-focused investment app Infina boosts its starting round to $6M – Referus

Retail investment apps in Southeast Asia attracted a lot of funding last year, and the trend looks set to continue with Vietnam-focused Infina announcing that it has added $4 million to its seed funding. Together with the $2 million announced in June, this brings the round’s total 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 launched 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 as a follow-up to its Series B, Bibit, Ajaib, Pintu and Syfe), Infina is targeting for first Gen Z and millennial investors.

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

The app allows investors to choose from a variety of asset classes, including fixed income products, mutual funds, and stock trading. It also offers fractional trading which means that 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.