Finnomena, a Thai online wealth management platform, has raised $5.5 million in Series B+ fundraising round led by Singapore-based Openspace Ventures, which invested through OSV Multiply Holdings, according to local media reports.
Besides Openspace, other existing investors that participated in the round included pan-Asian venture capital firm Gobi Partners and local corporate venture capitalist Krungsri Finnovate, which chipped in through its 2017-vintage Meranti ASEAN Growth Fund L.P., and Finnoventure Private Equity Trust, respectively. The fintech startup closed the round earlier this year.
“Over the past five years that we have invested in Finnomena, the company’s investor base has continuously grown to reach 100,000, accounting for more than 5% of the total number of mutual fund investors in Thailand…,” Sam Tanskul, managing director of Krungsri Finnovate, the corporate venture arm of Bank of Ayudhya, told local media.
The news comes over three years after Finnomena raised its Series B round amassing $10 million in 2020. The startup claims that it booked 29.6 million baht in profit in 2021, a 497.77% growth from 4.96 million baht in 2020.
Founded in 2016, Finnomena offers investment and portfolio management services, which include financial advisory, analysis tools, investment content and products, via its app and website. It has 3.4 million site visits a month, according to data available on its website.
