JB Financial Group Acquires Stake in Vietnamese Investing App Infina

JB Financial Group announced its strategic move to acquire a minority stake in Infina, a retail investing application in Vietnam, marking a significant step in expanding its presence in the Southeast Asian market.

Under the terms of the agreement, JB Financial will initially purchase 3.9 percent of Infina’s shares. This stake could increase to around 5 percent, contingent on the success of collaborative efforts between JB Securities Vietnam, JB Financial’s brokerage arm, and Infina.

JB Securities Vietnam, headquartered in Hanoi, provides a comprehensive suite of financial services, including stock brokerage, corporate bond issuance, and investment management.

In a push to innovate within the financial sector, the company launched Finavi in September 2023, a new securities trading platform aimed at the mobile stock trading and margin loan markets.

Kim Doo-yoon, CEO of JB Securities Vietnam, emphasized the strategic importance of partnerships with local fintech companies for market expansion.

“In the Vietnamese stock market, which has great growth potential, collaboration with various local partners such as fintech companies can be a desirable way to expand the customer base,” Kim stated.

He further expressed his vision for a cooperative ecosystem between traditional financial institutions and fintech innovators, highlighting the partnership with Infina as a foundational step.

Infina, renowned for its user-friendly investing platform with over 500,000 monthly active users, plans to diversify beyond its deposit-centric model to include securities trading, while also exploring opportunities for expansion in neighboring countries, including Cambodia.

James Vuong, CEO of Infina, voiced his optimism about the partnership, viewing it as an avenue for both domestic expansion and international outreach. “This partnership will not only offer a good opportunity for us to expand business in Vietnam but also to go global,” Vuong remarked.

This acquisition is part of JB Financial Group’s broader strategy to foster growth through alliances with fintech companies.

The group has previously entered into strategic investment partnerships with several fintech firms, including Korean mobile overseas remittance provider Hanpass and Finda, a fintech startup specializing in loan brokerage and management. – AsiaPEVCNews.com

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