After building brand recognition and educating the market on digital investments in the years leading up to their 2020 inflection point, Finhay set its sights on a bigger goal: becoming Vietnam's first fintech to secure a stock brokerage license.
In this final episode of our three-part series with VNSC by Finhay CEO and founder Huy Nghiem, we explore how Finhay acquired VNSC, a securities brokerage, and transformed from a wealthtech startup into a comprehensive digital investment institution.
The acquisition process wasn't without challenges - from competing with cash-rich real estate companies to an 18-month restructuring period involving system integration, compliance work, and regulatory discussions. But the result has positioned Finhay to offer all-in-one investment options to Vietnam's young investors.
Timestamps
(00:00) Why Finhay is not just your ordinary fintech anymore;
(00:22) Why Finhay needed to acquire its own license;
(01:04) The acquisition journey;
(02:50) The post-acquisition journey;
(04:53) Impact of the acquisition and the future of VNSC by Finhay;
About Huy
Huy Nghiem is the founder and CEO of Finhay. Prior to Finhay, Huy built his expertise and experience in the financial markets as a financial advisor at AMP in Australia. He also co-founded and led tech companies and business initiatives during his time in Australia. He graduated from the University of Sydney with a Bachelor's degree in Accounting and Marketing.
About VNSC by Finhay
VNSC by Finhay is Vietnam's largest digital investment and wealth management platform. The company partners with financial institutions to offer investment products for underserved mass retail investors in Vietnam, from millennials to families in rural areas. Since its founding in 2017 by serial entrepreneur Huy Nghiem, Finhay has helped create millions of financial accounts for Vietnamese to save and grow their wealth.
Music from Music from 'KHÔNG SAO CẢ' RAP VIỆT ft 7dnight and BẮC BLING (BẮC NINH) | OFFICIAL MV | HOÀ MINZY ft NS XUÂN HINH x MASEW x TUẤN CRY by Hoa Minzy
Some footage from Finhay, Toss
Directed by Paulo Joquiño
Produced by Paulo Joquiño
The content of this podcast is for informational purposes only, should not be taken as legal, tax, or business advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any Insignia Ventures fund. Any and all opinions shared in this episode are solely personal thoughts and reflections of the guest and the host.