Fintech startup 1Long raises capital in pre-seed funding round
New capital to be channeled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.
Vietnamese fintech startup 1Long has raised $500,000 in a pre-seed funding round, supported by a consortium of investors including Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.
The new capital will be channeled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion. The move is particularly significant in the Vietnamese market, which has seen a rise in mobile trading apps and speculative trends. 1Long is positioned to provide a more stable and sustainable financial pathway.
The company said it is also committed to contributing to community welfare through charitable and environmental initiatives, targeting both domestic and international investors interested in the Vietnamese market.
Mr. Hsu Ken Ooi, Co-Founder and Managing Partner at Iterative, said its investment in 1Long goes beyond mere returns; it is a step towards redefining the future of wealth management. “We are genuinely excited to see the innovative ways 1Long will redefine wealth management,” he added. “Their approach not only aligns with current market needs but also sets a new standard for how technology can empower individuals on their financial journey.”
Mr. Michael Do, Co-Founder and CEO of 1Long, said it is worth noting that, according to Motor Intelligence, Vietnam’s fintech market, while moving at a measured pace, is expected to ultimately surpass $72 billion by 2029 with a projected 13 per cent 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.”
Moving forward, 1Long 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.
Vietnam’s fintech sector ranks among the top in Southeast Asia with one of the highest growth rates, second only to Singapore, Acclime Vietnam and Decision Lab report. In this landscape, 1Long is poised to be a reliable platform committed to innovation, transparency, and focusing on helping users achieve long-term financial success.
