Y Combinator leads Vietnam fintech startup’s $4.8m round

Vietnam-based Anfin has raised US$4.8 million in a pre-series A funding round led by Y Combinator and angel investor Clement Benoit.

(From left) Anfin founders Hiep Nguyen, Phuoc Tran, Chi Pham, and Michael Do / Photo credit: Anfin

Anfin, which currently offers over 300 stocks and nine exchange-traded funds, aims to continue its partnership development to offer more financial asset classes.

The funds will also be used for product development, especially for the fintech company’s social investment product, which allows users to both host and join live audio rooms.

Using tech-enabled profiling and risk assessment tools, Anfin will provide a platform that allows credible investors to share ideas, strategies, and trades.

The funding is key to the firm’s next phase of growth and goal to democratize access to diverse financial assets for retail investors in Vietnam, said Phuoc Tran, Anfin’s CEO and co-founder.

Launched in October 2021, Anfin now has more than 100,000 funded accounts, with deposits reaching US$5 million and US$10 million in total transaction value.

See also: Is Vietnam late to Southeast Asia’s digital banking party?

The round also saw participation from investors including:

• Rebel VC
• Kharis Capital
• Newman Capital
• First Chek Ventures
• Micro Ventures
• Springcamp
• AngelHub