FINNOMENA has announced the successful completion of its Series B+ funding round, raising a total of $5.5 million led by Openspace Ventures, with participation from Finnoventure Private Equity Trust and Gobi Partners. This funding aims to broaden FINNOMENA’s product offerings into new asset classes in response to investor demands, the changing global economy and challenges in the global capital markets.
Mr. Jessada Sookdhis, CEO of FINNOMENA Group, revealed that despite the ongoing challenges in the global investment market, FINNOMENA continues to receive support from institutional investors to develop its investment management platform. This includes continuing to grow its mutual funds business, and strategically expand into new assets that are gaining investor interest, such as crowdfunding or investment tokens.
"In the next 5-10 years, the investment mix in our portfolio will not be the same as the past 10 years. We are riding the wave of global investment transformation, where new asset classes (New Asset Classes) continuously emerge. FINNOMENA aims to meet the demands of investors by being a leading-edge wealth creation platform with new asset classes, utilizing our strengths in investment advisory and efficient content creation to provide Thai investors with affordable and user-friendly access to these new opportunities," said Mr. Jessada.
FINNOMENA successfully closed its new funding round, Series B+, earlier this year, with a value of $5.5 million. The main institutional investors in this round included 1) OSV Multiply Holdings by Openspace Ventures, 2) Finnoventure Private Equity Trust by Krungsri Finnovate, and 3) Meranti Asean Growth Fund L.P. by Gobi Partners.
"We are excited to continue partnering with FINNOMENA as the lead Investor for this oversubscribed Series B+ round. With ever-increasing interest in investments from Thai investors, this funding round will allow FINNOMENA to cement its position as the leading wealth-tech platform in Thailand and enable the company to further launch new and innovative products for its customers.” stated Mr. Matt Windsor, Vice President at Openspace Ventures.
"Over the past 5 years since investing in FINNOMENA, Its investor base has grown to hundreds of thousands, now representing over 5% of Thailand's mutual fund investors. We are confident in expanding our investor base to millions in the long run, thanks to the increasing interest in investments among Thais, FINNOMENA ability to communicate with investors, provide knowledge, offer a wide range of investment perspectives, and introduce new services like the Goals Navigator has built trust and strengthened the company's brand,” said Mr. Sam Tanskul, Managing Director of Krungsri Finnovate.