A company based in Vietnam is trying to turn more people into stock investors with features like fractional trading. The founder of Stuart and Not So Dark is an angel investor in the company. The participants in the round included Rebel VC.
Anfin will use the funding to develop its social investment features, one of which allows users to host and join live audio rooms. Stock profiling and risk assessment are included in the stock trading platform. There will be more financial asset classes, in addition to its current 300 stocks and nine exchange traded funds.
It gives users access to stocks they might not be able to afford with its fractional trading features. Similar to other investment apps aimed at Gen Z and younger users, Anfin has educational content about stock market Fundamentals.
Anfin was founded by Hiep, Phuoc, Chi, and Michael.
It was launched in October of 2021. It has been downloaded more than a million times, according to its creators, because of increased interest in mobile banking and online investments. It has 100,000 funded accounts and deposits that can reach up to $10 million.
The startup is trying to get funding. Pintu is one of the examples.
The founders of Anfin were interested in a stock trading app because of the lack of demand for stocks as an asset class and the high cost of investing in the stock market. Blue chip stocks cost $400 to $600 for one full lot after Vietnam changed its trading lot size to 100 shares.
Anfin's founders saw an opportunity to lower the cost of investing by offering fractional shares or charging a spread for instant settlement and decided to take advantage of it. fractional trading is the most popular feature with average transaction values.
The Vietnamese government wants to increase the amount of people who invest in stocks from 3% to 5% in 2021.
Users are able to communicate with one another. The use of abull and bear-like system that identifies and features top traders on the app is included.
The investment profile features metrics that highlight an investor's track record and risk level in order to reinforce trust. The team prefers the term social investing over copy trading.
Anfins make money by selling trading commission. The app does not sell user data or pay for order flow. It integrates directly with its partners and uses Vietnam's regulated exchanges to place orders. The startup gets a source of recurring revenue from its subscription feature.
The answer to a large undiscovered market in Asia is democratizing access to stock trading with a social layer through a simple and friendly product. The Series A funding will allow Anfin to scale beyond Vietnam, and become a reference in social trading.
All Rights Reserved © 2024
