Vietnamese FinTech startup 1Long secures $500k in groundbreaking pre-seed funding

Vietnamese FinTech startup 1Long secures $500k in groundbreaking pre-seed funding

Vietnamese FinTech firm 1Long, a groundbreaking financial technology platform dedicated to facilitating individuals in achieving their financial aspirations, has raised $500,000 in a pre-seed funding round.

This investment was garnered from prominent investors, including Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital, showcasing the industry’s confidence in 1Long’s innovative approach to wealth management, according to a report from tnglobal.

1Long operates in the vibrant FinTech sector, offering a suite of services aimed at empowering users to meet their financial goals efficiently. Through its platform, 1Long is making strides in democratizing wealth building, allowing users to start investing with minimal amounts.

The company intends to utilize the newly acquired funds to spearhead technology development, forge strategic partnerships with asset managers and financial institutions, and expand its team strategically. This investment will significantly bolster 1Long’s capabilities in offering a stable and sustainable financial pathway for its users.

In addition to its primary offerings, 1Long is gearing up to diversify its investment products to include stocks, bonds, real estate, and provide value-added services such as retirement and tax planning. This expansion is indicative of 1Long’s commitment to catering to a broader audience, including both domestic and international investors interested in the Vietnamese market. The firm also underscores its dedication to community welfare by reinvesting in charitable and green initiatives.

1Long’s co-founder and CEO, Michael Do, highlighted the promising outlook of Vietnam’s FinTech market, projecting it to surpass $72bn by 2029 with a 13% CAGR. This growth aligns with 1Long’s mission to navigate the sector with an innovative and user-focused approach.

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