Infina, a Vietnam-based retail investment app, has raised $6m through a seed funding round to scale up its technology and increase its employee headcount to accelerate its growth.

Y Combinator, Sequoia Capital India’s Surge, Starling Ventures, Saison Capital, AppWorks, and Alpha JWC were amongst the investors in the round.

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It also saw participation from backers of Robinhood, Coinbase and other similar startups in other markets, according to a report by The Business Times.

Launched in January last year, Infina raised $2m as part of an oversubscribed seed funding round from investors including Venturra Discovery, 500 Startups, 1982 Ventures, and Nextrans.

Infina app allows users to invest in a spectrum of asset classes, including fixed-income products, mutual funds, and stock trading, with a minimum amount of $22.

It also offers access to fractionalised investment products in a bid to enable users to invest in a diverse portfolio of assets with low minimum amounts.

Infina founder and CEO James Vuong said: “Infina’s mission is to empower the rise of retail investors to participate in existing and emerging asset classes so that everyone has a real stake in the economy and prosperity of the country.”

Recent developments in investment space

In December last year, US-based alternative investment platform YieldStreet announced a new private equity strategy that provides retail investors direct access to equity investments in alternative asset managers.

In November, Stratiphy, an investment app using Robo-advisory tech, joined forces with wealthtech firm WealthKernel, to launch its investment app in the UK this year.

The same month, British investment platform AJ Bell rolled out an app-only investment platform, offering individual savings account, lifetime ISA, pension, and general investment account to retail investors.