VN fintech firm Finhay pivots to target ‘semi-pro’ investors

Finhay founder and CEO Huy Nghiem / Photo credit: Finhay

Finhay, one of the earliest microinvesting apps in Vietnam, has officially pivoted its platform to focus on stocks and investment certificates.

The new smart investment platform, called VNSC by Finhay, wants to target “semi-pro” investors who lack the time and knowledge to invest effectively, according to the company.

The platform aims to leverage product offerings from VinaSecurities, a local stock brokerage company that Finhay acquired last year.

VNSC by Finhay offers Auto Invest, which helps users automate investment strategies such as dollar cost averaging according to a specific schedule so that they don’t have to spend time monitoring.

The service aims to build a sustainable portfolio that can reduce the impact of market fluctuations as well as of FUD (fear, uncertainty, and doubt) and FOMO (fear of missing out) in investing.

Founded in 2017 by Huy Nghiem, Finhay started out as a wealth management platform that helps millennials microinvest in mutual funds starting from 50,000 Vietnamese dong (US$2.13).

It last bagged US$25 million in a series B round co-led by Openspace Ventures and Vietnam Investments Group.

Last October, the State Securities Commission of Vietnam warned investors of the risks associated with using online investment apps, including Finhay.

Currency converted from Vietnamese dong to US dollar: US$1 = 23,470 dong.