Infina, a Vietnam-focused investment app, boosts its seed round to $6M

Infina was a Summer 2021 cohort member at Y Combinator and hoped to be the "Robinhood of Vietnam."

Main Highlights:

Retail investing applications in Southeast Asia received significant funding last year, and the trend is likely to continue, with Vietnam-focused Infina reporting an increase in early capital to $4 million. With the addition of the $2 million disclosed in June, the round now totals $6 million.

Sequoia Capital India’s Surge program, Y Combinator, Saison Capital, Starling Ventures, Alpha JWC, and AppWorks are investors. Infina was a Summer 2021 cohort member at Y Combinator and hoped to be the “Robinhood of Vietnam.” It began operations in January 2021.

As with other Southeast Asian investment apps that have raised venture capital in the last year (a partial list includes Indonesia’s Pluang, which recently raised a $55 million follow-on round to its Series B, Bibit, Ajaib, Pintu, and Syfe), Infina is geared toward first-time Gen Z and millennial investors.

Vietnamese investors increased their exposure to the stock market last year, partly owing to a surge in the market value of publicly traded firms. Infina reports that its funded accounts grew at a compound monthly pace of 64% in 2021.

Investors may choose from various asset classes using the app, including fixed-income products, mutual funds, and stock trading. Additionally, it supports fractionalized trading, allowing users to invest with smaller minimums. Infina’s success is due to its integration with mega third-party applications, such as the e-commerce app Tiki.

Vietnam Stock Market

How to invest in Vietnam Stock Market?

Foreign investors are welcome to invest in Vietnam’s two major stock markets. While there are various restrictions on foreign majority interests, this should not concern all except the wealthiest individuals and institutions.

Locate a Stockbroker in Vietnam: To begin trading in Vietnam stocks, you must first open a brokerage account. With language hurdles remaining an issue in this nation, it is often preferable to create an account with one of the top brokerage firms in Vietnam.

If you visit a branch in a central business district, the largest stockbrokers in Vietnam are likely to have someone on hand who speaks English. Additionally, these organizations are often more competent than smaller ones.

The five largest brokerage firms in Vietnam (as measured by market share):

Open a Brokerage Account in Vietnam

Once you’ve chosen a brokerage business, they’ll want you to complete several forms. The precise kinds vary according to brokerage but often include the following:

Open a Bank Account in Vietnam

Additionally, the stock brokerage firm should assist you in opening a bank account in Vietnam with one of their partners to hold funds and settle international transactions. It entails the completion of another form or two (or three). However, the brokerage can reuse many documents from the previous step during the account opening process.

Apply a Securities Trading Code

After you’ve completed all other requirements, the brokerage will apply for your securities trading code. This is effectively an investor identification number required for stock trading in Vietnam. Of course, this will require a notarized passport copy, which you should have submitted for Steps 2 and 3.

After obtaining a securities trading code, your work is complete! Deposit funds into your new brokerage account, begin trading, and participate in Vietnam’s economic progress.

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