Vietnam-based 1Long, a financial technology platform focused on helping individuals achieve financial goals, has on Monday announced securing a $500,000 investment in a pre-seed round.
The funding, contributed by major investors including Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital, reflects the confidence key industry players have in 1Long’s innovative approach to wealth management, 1Long said in a statement.
According to the statement, the new capital will be channeled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.
This move is particularly significant in the Vietnamese market, which has seen a rise in mobile trading apps and speculative trends.
1Long said it is positioned to provide a more stable and sustainable financial pathway.
Moving forward, 1Long also aims to expand into investment products including stocks, bonds, real estate, and additional value-added services such as retirement and tax planning.
Catering to both domestic and international investors interested in the Vietnamese market, the company continues its commitment to community welfare through reinvestment in charitable and green initiatives.
It is noted that in Southeast Asia, Vietnam’s fintech sector ranks among the top, with one of the highest growth rates, second only to Singapore, as reported by Acclime Vietnam and Decision Lab.
In this landscape, 1Long said it is poised to be a reliable platform committed to innovation, transparency, and focusing on helping users achieve long-term financial success.
“It’s worth noting, according to Motor Intelligence, that the fintech market in Vietnam, while moving at a measured pace, is expected to ultimately surpass $72 billion by 2029 with a projected 13 percent compound annual growth rate (CAGR),
“This promising trend highlights the vast potential within the sector and aligns perfectly with our mission at 1Long, as we navigate the maturing landscape with optimism and a clear focus on innovation and the financial success of our users，” said Michael Do, Co-Founder and Chief Executive Officer at 1Long.
Founded by a team of former investment banking and Y Combinator-backed veterans, 1Long is a forward-thinking fintech company revolutionizing asset management with a commitment to continuous innovation.
Its platform aims to democratize wealth building, enabling individuals to start with as little as VND 10,000 (approximately less than $1).
This initiative offers two principal savings products: 1Safe and 1Term, designed for flexible savings with annual returns of up to 6.6 percent, and the possibility of earning rewards up to 9 percent for long-term deposits.
The platform supports financial fluidity by allowing daily transfers and withdrawals without any fees, thus removing barriers to accessing funds.
Breaking conventions, the fintech app is created for users seeking a relaxed, non-trading-centric approach to wealth management.
Through strategic partnerships with recognized associations including Viet Tin Capital and Techcombank, 1Long provides a secure and sustainable environment for savings and wealth creation, catering to the growing affluent class.
“Our investment in 1Long goes beyond mere returns; it’s a step towards redefining the future of wealth management,” said Hsu Ken Ooi, Co-Founder and Managing Partner at Iterative, highlighting the company’s potential to revolutionize the sector.
“We’re genuinely excited to see the innovative ways 1Long will redefine wealth management,
“Their approach not only aligns with the current market needs but also sets a new standard for how technology can empower individuals in their financial journeys,” he added.
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