Vietnamese investment app snags US$6m from Sequoia India's Surge, Y Combinator

VIETNAM-BASED retail investing app, Infina, has closed US$6 million in seed funding from startup accelerators and venture capital firms including Sequoia Capital India's Surge, Y Combinator, Saison Capital, Starling Ventures, Alpha JWC, and AppWorks.

In a statement on Tuesday (Feb 8), Infina said additional investors who joined the funding round have backed Robinhood, Coinbase and similar models in other markets.

Launched in January 2021, Infina allows users to invest, starting with just US$22, and choose from a wide range of asset classes, including fixed-income products, mutual funds, and stock trading.

Users can also access fractionalised investment products, allowing them to invest in a diverse portfolio of assets with low minimum amounts, it said.

James Vuong, founder and chief executive officer of Infina said: "Infina's mission is to empower the rise of retail investors to participate in existing and emerging asset classes so that everyone has a real stake in the economy and prosperity of the country."

The newly raised funds will be used to develop its technology and expand its team, said Vuong.

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Infina joins the investing app wave spurred by the pandemic. Companies like Indonesia's Ajaib and India's Groww have enabled the swelling ranks of new retail investors to gain access to the financial markets.

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