Local fintech firm Anfin, a proprietary stock trading platform, announced it had raised US$4.8 million in its pre-Series A funding round from international investors.

The firm said the round also saw participation from notable investors, including Clement Benoit, Founder of Stuart & Not so Dark and Y Combinator, Rebel VC, Kharis Capital, Newman Capital, First Chek Ventures, Micro Ventures, Springcamp and AngelHub.

The funds will strengthen Anfin’s product development, especially its social investment product, which lets users host and join live audio rooms. Through the use of tech-enabled profiling and risk assessment, Anfin will enable credible investors a platform to share ideas, strategies, and trades.

Furthermore, Anfin will continue its partnership development to offer more financial asset classes from its current offering of over 300 stocks and nine ETFs, allowing users to trade and diversify their portfolios with a few simple clicks.

The funds will also bolster Anfin’s relationship with local investor communities. This includes improving the library of free educational content and working directly with universities on products that incentivise financial literacy.

Launched in October 2021, Anfin is a fintech startup that enables customers to engage in stock investment and provides a fast and convenient trading experience. The trading app is an engaging, user-friendly experience for new retail investors interested in researching and learning about established investing methods.

Tran Thien Phuoc, CEO of Anfin said: “Within a year, Anfin’s stock investment application has had more than 1 million app downloads. In line with the company’s vision for the next growth phase, it was very important to join hands with the right leaders and investors. Our mission is to democratise access for retail investors to a variety of financial assets ranging from stocks, bonds, and structured investment products, among others, while increasing access to financial ideas.”

Through its value-added technology and financial services, Anfin’s fractional share trading feature allows users to start investing from only VND10,000 (US$0.43) while providing a simple way to build a balanced portfolio and invest in shares regardless of the share price.

According to Vietnam Securities Depository Center, the Government aims to increase the rate of the population which invests in the stock market from 3 per cent in 2021 to 5 per cent and 10 per cent in 2025 and 2030. The stock market's participation rate has reached 5.2 per cent of the population, thus proving increased interest in stock education as a potential investment channel. — VNS