Samreen Ahmad · · 1 min readJB Financial acquires 3.9% stake in VN investing app as part of fintech push
Signing ceremony between JB Financial Group and Infina/ Photo credit: Infina
South Korea-based JB Financial Group is securing a 3.9% stake in Infina, a retail investing app based in Vietnam, The Korean Herald reported.
With the deal, JB Financial aims to facilitate its further expansion in the Southeast Asian country. The company already has a presence there with a brokerage unit called JB Securities Vietnam.
JB Financial’s acquisition is subject to increase to 5% depending on the results of collaboration between JB Securities Vietnam and Infina.
Hanoi-based JB Securities Vietnam offers financial services such as stock brokerage and corporate bond issuance management. Infina, on the other hand, allows users to invest through a wide range of products, including fixed-income instruments, mutual funds, and stocks.
The deal to acquire a part of Infina is the latest in a string of JB Financial deals in the fintech space. It signed an investment agreement to acquire a 15% stake in Hanpass, a Korean firm offering international remittance services, in December 2023.
Earlier that year, JB Financial had also participated in the US$36 million series C round of Finda – a loan brokerage and management company – alongside 500 Global.
See also: Tyme Group’s gameplan for winning digibank race in Philippines and Vietnam
Editing by Miguel Cordon and Dhania Putri Sarahtika
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