Tips To Know How Technology Can Help Bridge The Gap Between Infrastructure & Sustainability

Vietnamese fintech startup Finhay has raised a $25 million Series B round led by Singapore-based Openspace Ventures, an early backer of Indonesia’s GoTo Group and 30 Under 30 Asia honoree Rexy Josh Dorado’s Manila-based social media site Kumu, and private firm Vietnam Investments Group.

Other investors in the round included Singapore-based Insignia Ventures Partners, TVS, Headline,TNB Aura and IVC, Finhay said in a statement. Earlier this month, Insignia, whose other investments include GoTo and Singapore-based used-car unicorn Carro, led a pre-Series A funding round for Bluesheets, a financial data startup in Singapore.

The funds will be used to invest in business expansion, talent acquisition and technology develop- ment. Finhay also bought a securities brokerage, making it the only licensed digital investment platform in Vietnam, according to the startup.

Finhay was founded in 2017 by Huy Nghiem, a Vietnamese-Australian who quit his finance job in Australia. The startup operates a micro-investment platform for Millennials and has more than 2.7 million registered users in the country of almost 100 million people. It recommends multiple micro-financial products including saving, investment and insurance based on the customer’s personal information and risk assessment.
The customers can then start building their wealth through Finhay with as little as $3. Nghiem, who made the 30 Under 30 Asia list in 2020, envisions Finhay as a one-stop solution where customers can manage their wealth seamlessly.

“Finhay is already emerging as the clear frontrunner in Vietnam’s booming investment space,” Jessica Huang Pouleur, partner at Openspace, said in the statement. “We believe a massive opportunity exists in Vietnam, which has an enterprising population hungry for the chance to invest smartly.”
The Vietnamese economy has grown since 2012, posting 6% growth or higher every year through 2019 on the strength of export manufacturing and the spending power of its population. Growth fell to 2.9% in pandemic year 2020 and 2.6% last year.

“A large number of people are now looking for ways to start investing – often for the first time, and we are exploring different ways to enable them,” added Nghiem. “It’s such an important inflection point.”

Other rising fintech platforms in Vietnam include MoMo, which has raised money from the likes of Goldman Sachs, Warburg Pincus and Vietnam Investments Group, and Toss, the fintech superapp operated by South Korean billionaire Lee Seung-gun’s Viva Republica.

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Akanksha Rai -CMO

As a seasoned marketer, Akanksha has over 12 years of experience; empowering and recognising the need to integrate technology, ideas and people. Akanksha has helped many teams think diversely and deliver through innovative initiatives across offline and online formats. Placing the customer at centre remains the key mantra for her, be it Strategy, Communication (ATL-BTL), Digital Marketing, AI, Research, and Corporate Communications. In her words - "Using customer as the sound board to undertake market fit tests remains a consistent approach to staying relevant and meaningful."
In her previous roles Akanksha has led global GTM for Singapore headquartered financial services firm, Contemi Solutions and has spearheaded key brand restructuring projects at MTL, an Advent International owned manufacturing major in India.

Shrinivas Susarla - CEO

Shrinivas Sathya Susarla (aka – Shrini) has 30 years of Insurance Domain experience - leading large teams across both Operations, IT application development, complex IT product implementations and business development.  In his various Leadership roles, Shrini was responsible for implementation of Large Policy Administration Systems for Life and Non-Life domain, Underwriting, Customer Service (back end operations) & Call Centre operations,  IT Integrations with Life and Non-life Insurers.  He led business units with revenue ~ USD 15 million,  while ensuring quality standards adherence and on schedule delivery of projects with an operational efficiency of ~33%. He has traveled across 14 countries providing Consulting, Implementation services and participation in cross cultural exchange programs.  His experience spans across organisations like LIC of India, ING Life (Exide Life now HDFC Life), Wipro, NTT Data, Mphasis etc.  He also had an entrepreneurial stint of setting up a Broking Organisation in India.

Shrini has the following to his credit, Education and Professional Qualifications

  • Professional Agile Leadership,
  • Associated Certified Coach, International Coaching Federation, US
  • PMP, Project Management Institute, US
  •    Six Sigma Black Belt Certified
  •    Fellow, Life Management Institute, US  
  •    Associate, Chartered Insurance Institute, UK
  •    Fellow, Insurance Institute of India
  •    Master’s Degree in Management from Jawaharlal Nehru Technological University, Hyderabad
  •    Master’s Degree in Commerce from Osmania University, Hyderabad

G Subramanyam - COO

Ganapathy (aka - GS) is an experienced leader with a demonstrated history of working in the insurance industry. With deep expertise in Claim Management, Risk Assessment, and Analytics & Affinity, He comes with immense experience in Customer Relationship Management, Delivery & Operations working with offshore and onsite teams. Ganapathy has founded OIF Tech Pvt. Ltd. to make it a go to platform for insurance intermediaries and was a key contributor in setting up an insurance aggregation business in Dubai.

Anshuman Kumar -Head of Engineering

Techno domain professional with strong technical experience in building, solutioning and architecting enterprise systems and bridging the gap between business and technology and delivering products for both on-premise and on-cloud environments for insurance domain.

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