A pre-seed fundraising round headed by Golden Gate Ventures saw US $1.5 million received for Tititada, a Vietnamese investing app. According to the business, the funding is the largest pre-seed investment ever made in a Vietnamese FinTech startup.
Tititada, a company that was just recently founded, offers consumers the chance to invest 10,000 dong (about $0.4) in fractional shares of local public firms. The phrase “Tch tiu thành I which describes the process of building up little quantities until they finally become large, is the source of the name.
Giang Nguyen, a director of the regional venture capital firm VinaCapital and the former chief investment officer of the Vietnamese investment company Sovico Group, founded the business.
Tititada intends to capitalize on the market’s influx of youthful retail investors. The business claimed that more than 70% of individual investors in Vietnam are under the age of 30, citing a poll by InfoQ Vietnam.
“We are igniting a mindset change to help Vietnamese invest in themselves, in their future. So Tititada is designed to help them to plan according to their life stage and life goals,” Nguyen said in a statement.