Digital banking levels up with investment drives

Vietnam’s fintech sector is showing increasingly positive signs as investors eye opportunities in AI-driven financial services and digital banking.

- By Thanh Van

In mid-May, Finan, which operates SoBanHang, completed its pre-Series A funding round led by OSK-SBI Venture Partners and other strategic investors.

The funding will enable Finan to enhance AI capabilities and accelerate the development of FinanOne, an AI-native business and finance operating system.

SBI, their limited partner, is supporting Finan in establishing strategic partnerships with its extensive portfolio of tech companies in Vietnam.

Additionally, the startup is planning future expansion into Malaysia, as FinanOne is now being developed to be regionally scalable rather than solely focused on Vietnam. Malaysia’s move towards an e-invoice mandate, similar to what has happened in Vietnam, aligns well with Finan’s growth strategy.

Sam Davidson, investment manager at OSK-SBI Venture Partners, said, “What initially drew us to Finan was how incredibly capital efficient they have been thus far. With just a couple of seed rounds of funding, they had already created a whole point-of-sale product with payments, e-commerce, customer relationship management, inventory and staff management, accounting and cash-flow software, and they acquired 800,000 users.”