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.

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.

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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.