Finhay, a Vietnamese digital investment platform, announced on Wednesday that it had secured a $25 million Series B round led by Openspace Ventures and VIG.
According to the press release, the funding round included firms like Insignia, TVS, Headline, TNBAura and IVC. Investments in technology development, talent acquisition and strategic business expansion will be made with the new capital.
“We are thrilled to welcome Openspace, VIG and other investors, and look forward to how their funding and understanding of Southeast Asian fintechs helps accelerate Finhay’s growth. A large number of people are now looking for ways to start investing, often for the first time, and we are exploring different ways to enable them. It’s such an important inflection point,” Huy Nghiem, the Chief Executive Officer and Founder of Finhay, commented.
Finhay was founded in 2017 to provide Vietnamese consumers with digital access to financial services. With more than 2.7 million users, it is a licensed brokerage company and an online investment platform in Vietnam.
“A decade ago, we invested successfully in a traditional brokerage that expanded online, and today, we are excited to invest in a digital native investment platform that has acquired a traditional brokerage. We have worked closely with Finhay’s local investors in a number of deals and look forward to collaborating with its international investors and management to accelerate its industry leadership,” Viet Nguyen, the VI Group Director, pointed out.
Infina's Funding Round
Infina, a retail investing app based in Vietnam, raised $6 million in February from Sequoia Capital India’s Surge, Saison Capital, Y Combinator, Alpha JWC, Starling Ventures and AppWorks. As well as Coinbase and Robinhood, angel investors from other markets participated in the seed round. To accelerate its business growth, Infina plans to use the funding to hire more employees and scale up its technology.
