How Finhay Laid the Groundwork for Their Platform to Grow in 2020

Huy: The inflection point for Finhay was in 2020. That was obviously during COVID, when people had more time at home and wanted to invest online. But in order to reach that inflection point, you have to go back two years.

During those two years, we put in significant effort to get the brand out there in front of the community. We participated in a number of events, such as TechFest, where we won an award. That was a big recognition from the Vietnam government—it’s one of the biggest tech events in the country. We also joined other events like Startup Wheel in Ho Chi Minh City.

The whole idea was to build brand awareness. And that, I personally think, helped us lay the foundation. By the time 2020 came around and we pushed harder on marketing, people already knew the brand.

Validating Ideas via Vietnam Founders’ Facebook Group

Huy: I remember spending time in the Launch group in 2017 to test the idea.

Launch is a private group for founders in Vietnam. In 2017, I used it to test the waters with the Finhay idea. I asked questions like: What would you do with $3? Would you invest it, or would you spend it on bubble tea? The reaction was actually quite welcoming.

Again, I feel fortunate because, in 2017 and 2018, the whole country was starting to talk about Industry 4.0. People were more open to new ideas.

Meeting His First VC + Signing His First VC Term Sheet

Paulo: The reason I chose this room is because Yinglan always talks about the first sign he saw when he met you.

Huy: Oh, yeah, of course.

Paulo: When you pitched to him, I know that really left an impression on him.

Huy: Actually, at the TechFest event in Da Nang, I initially didn’t know there was an event happening. A friend asked me, Are you going to TechFest in Da Nang? And I was like, Wait, there’s an event?

I immediately booked a ticket and flew there. That was in late 2018. I had attended a previous TechFest but hadn’t planned to join that year. While walking around the event, a few friends said, Hey, you should meet Yinglan from Insignia.

I asked, Who is he? They said, He’s an investor. So I thought, Alright, let’s meet this investor.

I met Yinglan, and I still have a picture of us signing the term sheet that day. He enjoyed a quick 15-30 minute pitch—almost like Shark Tank. Yinglan is very smart. He quickly understood the model, having invested in similar businesses before. He saw that our model applied well to Vietnam, which is why he invested in us.

Learnings from Fundraising

Huy: Before Finhay, I had little knowledge about board management, directors, and shareholders. It was all new to me. But going through the fundraising process helped me grow.

I think it was a valuable lesson. Welcoming more investors brings more than just money—it brings expertise and value.

Subscribe for Part 3: From Tech Startup to Tech Securities Brokerage

Paulo: It’s just one part of the service for a particular segment.

Huy: Generally, these products are more for sophisticated investors and institutions. We have institutional clients, and these offerings are tailored for them.