- JB Financial Group acquires stake in Vietnam’s Infina to expand Southeast Asian presence.
- The deal complements JB Securities Vietnam’s offerings.
- This acquisition is part of JB Financial’s ongoing fintech investment strategy.
Strengthening Southeast Asian presence
South Korea-based JB Financial Group has acquired a 3.9% stake in Infina, a retail investing app based in Vietnam, as part of its ongoing fintech push and expansion strategy in Southeast Asia.
The deal, which is subject to increase to 5% depending on the collaboration results between JB Securities Vietnam and Infina, aims to facilitate JB Financial’s growth in the Vietnamese market, where it already has a presence through its brokerage unit, JB Securities Vietnam.
Complementary services
JB Securities Vietnam, based in Hanoi, offers a range of financial services, including stock brokerage and corporate bond issuance management.
Infina, on the other hand, provides users with a platform to invest in various products, such as fixed-income instruments, mutual funds, and stocks. The partnership between the two companies is expected to create synergies and enhance the overall offerings for customers in Vietnam.
Fintech investment spree
The acquisition of a stake in Infina is the latest in a series of fintech deals by JB Financial. In December 2023, the company signed an investment agreement to acquire a 15% stake in Hanpass, a Korean firm specializing in international remittance services.
Earlier in the same year, JB Financial participated in the US$36 million series C round of Finda, a loan brokerage and management company, alongside 500 Global.
JB Financial’s strategic investments in fintech companies demonstrate its commitment to staying at the forefront of the rapidly evolving financial technology landscape.
By expanding its presence in Vietnam and partnering with innovative startups like Infina, JB Financial is positioning itself to capitalize on the growing demand for digital financial services in Southeast Asia.
To read the original article in its entirety: https://www.techinasia.com/jb-financial-nets-39-stake-vietnamese-retail-investing-app-fintech-push
