Start by saving just two dollars. Founder Nghiem Xuan Huy wants to transform how the country’s millennials manage their money.
Since 2017, Finhay allows users to micro-invest in Vietnam’s mutual funds – that is, investments that consist of a portfolio of stocks, bonds, or other securities. Investments in these portfolios can start from just VND 50,000 ($2.11).
Having raised $1.1 million last year, Finhay will use the fresh, undisclosed capital to boost its market reach, improve IT infrastructures, and recruit more staff to develop its platform.
While working as a financial advisor in Australia, Nghiem Xuan Huy spotted the growing trend of people using robot-advisors as tools to invest and achieve financial goals. Unlike traditional banks and mutual funds, robot-advisor platforms are particularly relevant to younger people because they are accessible and available to people of any wealth bracket.
Read more on VietLaunch.