Seoul, South Korea – In a strategic move to expand its foothold in the Southeast Asian market, South Korea’s JB Financial Group has acquired a 3.9% stake in the Vietnam-based retail investing app, Infina, according to a report from The Korean Herald. This acquisition marks a significant step in JB Financial’s ambitions to grow its operations in Vietnam, complementing its existing brokerage unit, JB Securities Vietnam, already operational within the country.
Key Highlights of the Deal:
- Stake Acquired: JB Financial Group secures a 3.9% stake in Infina.
- Future Prospects: The stake could increase to 5% based on the success of the partnership between JB Securities Vietnam and Infina.
- Strategic Expansion: This move is part of JB Financial’s strategy to expand its presence in the Southeast Asian markets.
Table of Key Information
| Aspect | Details |
|---|---|
| Company Acquiring | JB Financial Group |
| Stake Acquired | 3.9%, with potential to increase to 5% |
| Company Acquired | Infina |
| Sector | Fintech/Investing App |
| Region | Vietnam |
| JB Financial’s Presence | Already established with JB Securities Vietnam |
| Infina’s Services | Offers investment in fixed-income instruments, mutual funds, and stocks |
JB Financial Group’s strategic stake in Infina highlights the company’s continued investment in the fintech sector, following its December 2023 acquisition of a 15% stake in Hanpass, a Korean firm specializing in international remittance services, and its participation in a US$36 million Series C funding round for Finda, a loan brokerage and management company, earlier that year.
JB Securities Vietnam, based in Hanoi, provides a range of financial services including stock brokerage and corporate bond issuance management. Infina, by facilitating investments in various products such as fixed-income instruments, mutual funds, and stocks, offers a comprehensive platform for retail investors in Vietnam.
This partnership between JB Financial and Infina not only underscores JB Financial’s commitment to diversifying its investment portfolio but also its intention to leverage the growing fintech landscape in Southeast Asia to bolster its market presence.
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News like this don’t count as surprise, Vietnam is probably the next up and coming tiger of SEA and only more and more investment will pour into the country. In contrast, other SEA countries like Malaysia is struggling catch up!