What is Anfin's core value proposition for the Vietnamese market?

Anfin aims to lower the barriers to entry for retail investors in Vietnam by addressing low financial literacy, high costs of full-lot share buying, and unintuitive legacy brokerage platforms. Their mobile-first app integrates educational content and professional-grade research metrics to simplify the investment process for a demographic that has historically favored real estate over equities.

How does Anfin generate revenue without a full brokerage license?

According to slide 17, Anfin operates through partnerships with established entities like VNDIRECT, SSI, and Dragon Capital. They capture a 0.25% gross spread on trades. After paying a 0.14% share to their brokerage partners, Anfin retains a 0.11% net spread. This allows them to scale their user base and operations while working toward independent licensing.

What market tailwinds is Anfin leveraging?

The deck cites several macro factors: rising GDP per capita shifting toward discretionary spending, capital controls limiting foreign asset ownership, and a young demographic favorable to long-term equity strategies. Slide 7 specifically highlights the explosive growth in daily trading volume on Vietnam's exchanges, which jumped from $330M in 2020 to $2.1B in late 2021.

What are the key milestones in Anfin's projected timeline?

The timeline on slide 25 shows a progression from a limited release with 2,000 accounts in Q4 2021 to a full release with 8,000 accounts in Q1 2022. By Q3 2022, they aimed for 30,000 accounts through partnership programs, culminating in a target of 80,000 funded accounts and a Series A raise in Q4 2022.

Who are the key members of the founding team?

The team consists of Phuoc Tran (CEO, co-founder of Ahamove), Michael Do (CPO, formerly of Beenext and Lazard), Hiep Nguyen (Tech, lead engineer at Facebook-acquired Caterva), and Chi Pham (Operations, formerly of Tiki and Capital One). This combination of local startup scaling experience and international finance/tech background is a central pillar of their pitch.

Anfin Pitch Deck (2022): 26-Slide Series A Deck

See all 26 slides of the Anfin pitch deck — a 2022 Pre Series A deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Anfin's pitch deck presents a compelling case for a digital brokerage in the underserved Vietnamese market, leveraging a 59% 6-year CAGR in daily trading volume. The founding team brings significant experience from major regional players like Ahamove, Beenext, and Tiki. The deck clearly outlines a 'flywheel' product strategy combining education, research, and trading to engage new retail investors. Notably, Anfin uses a partnership model with established brokers like VNDIRECT and SSI to operate before acquiring its own license, capturing a 0.11% net spread. While the roadmap is ambitious, aim…

Key takeaways

Vietnam's stock exchange daily trading volume reached a peak of $2.1B in H2 2021, representing a 59% 6-year CAGR (Slide 7).
The founding team includes veterans from Ahamove, Beenext, Lazard, and Capital One, providing a mix of local operational and global financial expertise (Slide 3).
Anfin identifies a $30B opportunity if Vietnam achieves mutual fund adoption levels similar to India (Slide 9).
The business model relies on a 0.25% gross spread, with 0.14% shared with partners, resulting in a 0.11% net spread (Slide 17).
Current operational partners include VNDIRECT, SSI, and Dragon Capital, allowing the platform to function before obtaining a full brokerage license (Slide 17).
The product strategy focuses on a 'flywheel' of behavior: education, research, and trading to hook retail users (Slide 11).
Anfin projected reaching 80,000 funded accounts by Q4 2022, coinciding with a planned Series A raise (Slide 25).
The revenue run-rate calculation assumes an average account value of $300 and a 1.5x monthly turnover (Slide 25).

Executive Summary and Team

Slide 1: Title Slide

The cover slide features the Anfin logo and two mobile device mockups showing the app interface. The interface displays a portfolio balance of 12,090,500 (presumably VND), market indices like VN30 and HNX, and a watchlist. The design is clean and emphasizes a mobile-first user experience.

Slide 3: Founding Team

Anfin presents a four-person founding team with diverse backgrounds. Phuoc Tran (CEO) is noted as a co-founder of Ahamove, a major Vietnamese delivery platform, and founder of VRED. Michael Do (CPO) brings venture capital and investment banking experience from Beenext and Lazard. Hiep Nguyen (Tech) has a background in AI and was a lead engineer at Caterva, which was acquired by Facebook. Chi Pham (Operations) has experience at TIKI, Capital One, and Saigon Hanoi Bank. The slide uses logos from these former employers to establish immediate credibility.

Market Opportunity and Problem Statement

Slide 5: The Status of the Market

This slide identifies four primary barriers to retail investing in Vietnam: Financial Literacy (lack of education on compound interest), Asset Diversification (over-reliance on real estate), Simplicity of Use (high learning curves on existing platforms), and Cost to Invest (prohibitive pricing for full lots of shares). This sets the stage for Anfin's solution as a democratizing force.

Slide 7: Market Growth Metrics

Anfin highlights a massive surge in market activity. Daily trading volume on Vietnam's stock exchanges grew at a 59% CAGR over six years. The chart shows volume rising from $132M in 2016 to a peak of $2.1B in H2 2021 . This data point is crucial for proving that the market is currently at an inflection point.

Slide 9: Regional Comparison

The deck compares Vietnam's mutual fund assets as a percentage of GDP (0.3%) to other nations like Thailand (28.9%) and the USA (118.0%). It claims that achieving adoption levels similar to India (10.8%) would represent a $30B opportunity . The slide also lists tailwinds such as rising GDP per capita and high internet penetration.

Product Strategy and User Experience

Slide 11: Product Made Simple

This slide illustrates the 'flywheel' of the Anfin app. It connects four key functions: Portfolio , Stocks , Invest , and Education . The text emphasizes that the combination of trading, research, and learning is designed to 'hook' users into a repeatable cycle of behavior.

Slide 13: Company Discovery through Research

Anfin showcases its research tools, including a live feed of popular news and advanced metrics explained for retail users. The goal is to train users to 'examine like a professional trader.' The mockups show financial metrics like P/E, EPS, and industry rankings, suggesting a level of depth beyond simple execution.

Execution and Business Model

Slide 15: Execution Divider

A transition slide featuring isometric graphics of a professional standing on a growth chart, signaling the shift from market theory to operational reality.

Slide 17: Partnership Model

This is a critical slide explaining how Anfin operates. It uses a partnership model to enable operations before acquiring its own brokerage license. The revenue breakdown is shown as a 0.25% Gross Spread minus a 0.14% Partner Share , resulting in a 0.11% Net Spread . Listed partners include VNDIRECT , SSI , and Dragon Capital .

Slide 19: The Landscape Divider

A transition slide leading into the competitive and regional context.

Slide 21: Regional and Global Trends

Anfin points to successful peers in other markets to validate their model. Regional examples include Ajaib (Indonesia, $153M raise), Bibit (Indonesia, $30M raise), and Groww (India, $30M raise). Global mentions include Robinhood and Cash App . The takeaway is that Vietnam lacks a modern mobile app to address similar demand.

Slide 23: Future Opportunities

This slide outlines a roadmap for expansion. Beyond stocks, Anfin eyes NFTs , Derivatives , and Crypto in the brokerage space. It also envisions moving into Passive investments (copy trading, retirement), Banking (lending, checking), and Regional Expansion into Thailand, the Philippines, and Cambodia.

Slide 25: Projected Timeline

The final slide in the set provides a growth forecast. It targets 80,000 funded accounts by Q4 2022 . The revenue math is explicitly stated: 80k accounts $300 account value 1.5 monthly turnover 0.25% commission 12 months = $1.1M run-rate . It also marks Q4 2022 as the target for a Series A raise.

What Works in the Anfin Deck

Strong Team-Market Fit: The founders' backgrounds in high-growth Vietnamese startups (Ahamove, Tiki) and global finance (Lazard, Capital One) directly address the operational and regulatory hurdles of the sector. · Clear Revenue Math: Slide 25 provides a transparent look at how the company intends to reach its revenue targets, breaking down the assumptions for account value and turnover. · Validation via Proxy: By citing the success of Ajaib and Groww, Anfin makes a strong case that the 'Robinhood of [Country]' model is a proven winner in emerging markets. · Operational Pragmatism: The partnership model on Slide 17 shows an understanding of regulatory friction and a viable path to market without waiting for a full license.

What is Missing from the Anfin Deck

Unit Economics: While the net spread is shown, there is no data on Customer Acquisition Cost (CAC) or Lifetime Value (LTV), which are critical for evaluating the sustainability of the 80k account growth target. · Competitive Matrix: The deck mentions that no mobile apps 'adequately' address the demand, but it does not name or analyze local competitors or legacy banks that might be developing their own digital tools. · Funding Ask: The provided slides do not include a specific dollar amount being raised or a breakdown of how the funds will be allocated. · Regulatory Roadmap: While partnerships are a good start, the path to obtaining a full independent license is not detailed, which is a significant long-term risk.

Founder Takeaways

Use Regional Success as a Benchmark: If you are building in an emerging market, show investors that your model has already worked in similar economies (e.g., comparing Vietnam to Indonesia or India). · Quantify the 'Why Now': The 59% CAGR in trading volume on Slide 7 is a powerful way to show that the market is ready for a new solution today, not five years from now. · Visualize the Flywheel: Instead of just listing features, show how those features interact to keep the user engaged, as seen in the 'Product Made Simple' slide. · Be Transparent About Partnerships: If you are 'renting' a license or infrastructure, show the exact margin split. It builds trust and shows you have a handle on your gross margins.

Frequently asked questions

What is Anfin's core value proposition for the Vietnamese market?: Anfin aims to lower the barriers to entry for retail investors in Vietnam by addressing low financial literacy, high costs of full-lot share buying, and unintuitive legacy brokerage platforms. Their mobile-first app integrates educational content and professional-grade research metrics to simplify the investment process for a demographic that has historically favored real estate over equities.
How does Anfin generate revenue without a full brokerage license?: According to slide 17, Anfin operates through partnerships with established entities like VNDIRECT, SSI, and Dragon Capital. They capture a 0.25% gross spread on trades. After paying a 0.14% share to their brokerage partners, Anfin retains a 0.11% net spread. This allows them to scale their user base and operations while working toward independent licensing.
What market tailwinds is Anfin leveraging?: The deck cites several macro factors: rising GDP per capita shifting toward discretionary spending, capital controls limiting foreign asset ownership, and a young demographic favorable to long-term equity strategies. Slide 7 specifically highlights the explosive growth in daily trading volume on Vietnam's exchanges, which jumped from $330M in 2020 to $2.1B in late 2021.
What are the key milestones in Anfin's projected timeline?: The timeline on slide 25 shows a progression from a limited release with 2,000 accounts in Q4 2021 to a full release with 8,000 accounts in Q1 2022. By Q3 2022, they aimed for 30,000 accounts through partnership programs, culminating in a target of 80,000 funded accounts and a Series A raise in Q4 2022.
Who are the key members of the founding team?: The team consists of Phuoc Tran (CEO, co-founder of Ahamove), Michael Do (CPO, formerly of Beenext and Lazard), Hiep Nguyen (Tech, lead engineer at Facebook-acquired Caterva), and Chi Pham (Operations, formerly of Tiki and Capital One). This combination of local startup scaling experience and international finance/tech background is a central pillar of their pitch.

Cover slide of the Anfin pitch deck — Pre-Series A 2022 — Anfin pitch deck, slide 1 (2022)

Anfin pitch deck: the facts

Company: Anfin
Year: 2022
Stage: Pre-Series A
Slides: 26
Sector: Fintech / Digital Brokerage
Deck type: Investment Deck
Outcome: Raised $4.8M Pre-Series A in 2022 (per external news sources)
Headquarters: Vietnam

Anfin pitch deck PDF

The full Anfin deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Anfin pitch deck was used for

This is Anfin’s 2022 pre-Series A pitch deck for its Vietnam-focused mobile stock trading app, presented as a 26-slide fundraising document for a pre-Series A round. The deck positions Anfin as a fintech/digital brokerage solving barriers to retail participation in Vietnam’s growing stock market, such as low financial literacy, complex brokerage interfaces, and high minimum investment sizes, as illustrated in slides 5–6. It was used in the context of raising a multi-million-dollar pre-Series A round to expand its platform and capture the retail investor segment in Vietnam.

Business model: Anfin is a Vietnam-based fintech firm that operates a proprietary mobile stock trading platform aimed at retail investors, enabling low-minimum, fractional stock investing and wealth management access for individuals in the Vietnamese market.

Round: Pre-Series A
Year: 2022
Raised: $4.8M
Lead investor: Clement Benoit and Y Combinator
Investors: Clement Benoit, Y Combinator, Rebel VC (also referred to as Rebel Fund in some sources), Kharis Capital, Newman Capital, First Check Ventures, MicroVentures, Springcamp
Founders: Phuoc Tran
Industry: Fintech; retail stock trading / digital brokerage.

Headquarters: Vietnam (commonly described as Vietnam-based; city not consistently specified in accessible sources).

Total funding: External sources report Anfin has raised about $6–7 million in total venture funding across seed and pre-Series A rounds, including a $1.2M seed round, a $4.8M pre-Series A, and earlier YC funding.

Use of funds as presented: According to funding coverage, the capital was to be used to improve Anfin’s app, including building a social network layer to let users share investment knowledge and enhance the overall investing experience.

What happened after the Anfin deck

Following the use of this 2022 pre-Series A deck, Anfin successfully raised a $4.8M pre-Series A round led by Clement Benoit and Y Combinator, building on prior YC, seed, and strategic investments and continuing to operate its retail-focused stock trading platform in Vietnam.

Raised a **$1.2M seed round** in January 2022 led by Goodwater Capital and Global Founders Capital, with participation f
Received **$125,000 from Y Combinator** ahead of joining the Winter 2022 batch, providing early validation and support.
Closed a **$4.8M pre-Series A round** in June 2022 led by angel investor Clement Benoit and Y Combinator, with participa
Onboarded **Saigon Asset Management (SAM)** as an equity investor and strategic partner, strengthening local market pres
Reported significant user traction around the time of YC W22, including over a million app downloads and roughly 100,000

What the Anfin deck got right

Structured articulation of key retail investing barriers in Vietnam. Slide 5 clearly segments the market barriers into financial literacy, asset diversification habits, simplicity of use, and cost to invest, offering a structured view of why Vietnamese retail investors struggle to access the stock market and setting up a strong problem statement aligned with external commentary on the market.
Concrete illustration of prohibitive share-lot costs. Slide 6’s use of specific blue-chip Vietnamese companies (Vingroup, Masan, Vietcombank, The Gioi Di Dong) and their per-full-lot prices concretely illustrates how traditional brokerage minimums are prohibitive, making the investment pain financially tangible for investors reviewing the deck.
Strong alignment between identified problems and Anfin’s product thesis. The deck’s focus on outdated mobile experiences, high minimums, and non-intuitive brokerage platforms aligns directly with Anfin’s mobile-first, low-minimum trading product as described in later press, reinforcing the coherence between the deck narrative and the company’s actual product strategy.
Demonstrated fundraising effectiveness with credible lead investors. External sources confirm that the 2022 pre-Series A deck was associated with a successfully closed $4.8M pre-Series A round led by notable investors (Clement Benoit and YC), indicating that the deck and broader story were compelling enough to secure capital from reputable backers.
Stacked validation from YC, seed VCs, and local strategic partner. Anfin’s prior seed and YC funding, along with the strategic partnership with Saigon Asset Management, provide additional validation and de-risking that likely bolstered investor confidence when reviewing the deck, giving the fundraising narrative institutional and local credibility.
Early traction subsequently validating the retail growth narrative. Later reporting on user traction (e.g., over a million app downloads and roughly 100,000 funded accounts) supports the deck’s emphasis on capturing the retail segment, suggesting that its growth claims and targets were grounded in emerging performance rather than purely aspirational.

What could have been stronger

Limited quantified evidence for the stated market pain points. Slide 5 references low financial literacy, real estate concentration, complex brokerage UX, and high share-lot costs, but the deck excerpt provides no quantitative evidence (e.g., percentage of population investing in stocks, literacy metrics, or comparative cost data) to substantiate these claims, which may weaken the rigor of the market pain narrative.
Problem-solution linkage not fully articulated in visible slides. While slide 6 shows high per-lot prices for major Vietnamese stocks (e.g., Vingroup, Masan, Vietcombank, The Gioi Di Dong), the excerpt does not explain how Anfin’s product mechanics (fractional shares, minimum ticket size, fee structure) directly overcome these specific barriers, leaving a partial link between the problem and solution in the visible content.
Traction not clearly evidenced in the excerpted slides. The available slide text focuses on market status and outdated brokerage experiences but does not present, in the excerpt, concrete traction metrics (e.g., funded accounts, trading volume, revenue), although later press reports mention such milestones; this omission in the deck snippet may make it harder for investors to assess execution at a glance.
Regulatory and compliance strategy not visible in excerpt. The deck emphasizes user experience barriers and high minimums but, in the visible text, does not discuss regulatory licensing, compliance, or risk management for a brokerage platform operating in Vietnam, which are likely key diligence topics for investors in fintech.
Competitive differentiation only partially addressed in visible content. The OCR text highlights qualitative issues like ‘basic education is esoteric’ and ‘high learning curve’ without referencing any competitive benchmarking against other local apps or brokers, limiting investors’ ability to see how differentiated Anfin is versus incumbents from the deck snippet alone.

How an investor would read this deck

What draws attention

Evidence that Anfin’s mobile-first, low-minimum trading model directly addresses the barriers highlighted on slide 5, particularly financial literacy, UX simplicity, and cost to invest, and how these translate into user growth and engagement.
Details of Anfin’s unit economics (take rate, commission structure, customer acquisition cost, and lifetime value) in the context of Vietnam’s retail brokerage market, given the pre-Series A round size and growth ambitions.
Regulatory approvals, licenses, and compliance infrastructure required to offer brokerage and fractional investing services in Vietnam, including how Anfin mitigates operational and legal risk.
Traction metrics such as number of app downloads, funded accounts, trading activity, and user retention as of the time of the pre-Series A raise, to validate the product-market fit implied by the deck.
Strategic value and roles of key investors like Y Combinator, Clement Benoit, Goodwater Capital, Global Founders Capital, and Saigon Asset Management in distribution, governance, or follow-on capital.

Risks that stand out

Regulatory risk associated with offering retail brokerage and fractional investing in Vietnam, where changes in securities regulation or enforcement could affect Anfin’s business model.
Competitive risk from established local brokers and newer fintech apps that may respond by lowering minimums, improving mobile UX, or launching similar fractional products, potentially reducing Anfin’s differentiation.
Execution risk in scaling financial literacy and education features to effectively convert a largely real estate-focused savings culture into sustained equity investing, as highlighted by the deck’s focus on esoteric financial education.
Monetization and unit-economics risk if trading volumes or assets per user do not grow as expected, given the low-minimum, retail-heavy model and potential pressure on commission fees.
Dependence on ongoing investor support and follow-on rounds in a volatile global funding environment, despite the successful seed and pre-Series A rounds.

Questions this deck invites

What specific licenses and regulatory permissions does Anfin hold in Vietnam to operate its stock trading platform, and how do these cover fractional investing and margin or derivative products, if any?
How do Anfin’s customer acquisition channels (e.g., partnerships, paid marketing, referrals) compare in cost and effectiveness, and what were the CAC and payback periods around the time of the pre-Series A raise?
What are the key product features that differentiate Anfin from existing Vietnamese brokers and trading apps, beyond lower minimums and mobile UX, and how defensible are these advantages?
How has user behavior evolved since launch (funded accounts, trading frequency, assets per user), and what evidence supports sustainable engagement rather than one-off speculative trading?
What is Anfin’s roadmap for expanding beyond domestic equities (e.g., ETFs, bonds, other assets) while managing regulatory and operational complexity in Vietnam?

What founders can take from the Anfin deck

Highlighting market barriers such as low financial literacy, complex brokerage UX, and high minimum investment sizes, as seen in slide 5, can effectively frame a fintech opportunity when backed by clear local context and later external validation.
Using concrete examples of blue-chip stocks and their per-lot costs (Vingroup, Masan, Vietcombank, The Gioi Di Dong) on slide 6 helps investors quickly grasp why traditional brokerage minimums are prohibitive for average retail investors.
Aligning a pitch deck’s narrative about accessibility and retail focus with external milestones—such as YC backing, seed funding from Goodwater and GFC, and a multi-million-dollar pre-Series A—reinforces credibility and execution capability.
Clearly articulating how a product solves multiple layered problems (education, UX, and cost to invest) is crucial; when the link between problem slides and solution is incomplete, investors must seek additional detail, indicating the value of explicit solution mapping in future decks.
Demonstrating strategic partnerships (e.g., Saigon Asset Management’s equity and strategic role) in fundraising communications can signal market validation and potential distribution leverage for a retail-focused trading platform.
Staging funding (YC pre-seed, seed, then pre-Series A) tied to visible traction and market growth shows how a fintech can progressively de-risk its story for investors, which is reflected in Anfin’s funding chronology.

Anfin pitch deck: common questions

What does Anfin do?

Anfin is a Vietnam-based fintech company that operates a mobile stock trading platform designed to make investing accessible to retail investors, including through low minimums and fractional investing.

How much did Anfin raise in the pre-Series A round this deck was used for?

According to multiple funding reports, Anfin raised a **$4.8 million pre-Series A round** in June 2022, led by angel investor Clement Benoit and Y Combinator, with participation from investors such as Rebel VC, Kharis Capital, Newman Capital, First Check Ventures, MicroVentures, Springcamp, and AngelHub.

Who led Anfin’s pre-Series A fundraise?

Coverage of the pre-Series A round lists the lead investors as **Clement Benoit** (founder of Stuart and Not So Dark) and **Y Combinator**, alongside a consortium of other venture and angel investors.

What funding did Anfin secure before the 2022 pre-Series A deck?

Reports describe Anfin as a Y Combinator-backed investment app, with Y Combinator having invested $125,000 ahead of the Winter 2022 batch, followed by a $1.2M seed round in January 2022 led by Goodwater Capital and Global Founders Capital, and then the $4.8M pre-Series A in June 2022.

Who is the founder or CEO associated with Anfin?

External profiles and interviews identify **Phuoc Tran** as the co-founder and CEO of Anfin, leading the Y Combinator-backed investment app.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

Anfin pitch deck slides

Anfin pitch deck slide 1 of 26 — Anfin pitch deck — slide 1 of 26

Anfin pitch deck slide 2 of 26 — Anfin pitch deck — slide 2 of 26

Anfin pitch deck slide 3 of 26 — Anfin pitch deck — slide 3 of 26

Anfin pitch deck slide 4 of 26 — Anfin pitch deck — slide 4 of 26

Anfin pitch deck slide 5 of 26 — Anfin pitch deck — slide 5 of 26

Anfin pitch deck slide 6 of 26 — Anfin pitch deck — slide 6 of 26

What each slide of the Anfin pitch deck says

Slide 3

Founding Team = = J a] = Soh PHUOC TRAN MICHAEL DO HIEP NGUYEN CHI PHAM Cofounder & CEQ Cofounder & CPO Cofounder & Tech Cofounder & Operations - Founder at VRED, sales agent B2B - Early-stage investor at BEENEXT - Cofounder at Tale. City, Al-powered - Product management at TIKI marketplace with $36M GTV' - Growth product manager at MZ travel and tourism app Operations Strategy at Capital One. - Cofounder at Ahamove, VN's largest leading to $18 in annual sales - Lead engineer af Caterva — +Business Development af Saigo oftamaric delivery pistionn - Investment Banking at Lazard acquired by; Facatock; Hanoi Bank A HC & 5 = ©» BEENEXT N EE = GHN ,; crvove — capiraicre TIKI ARS LAZARD vie S44 W…

Slide 5

The Status of the Market @ Financial Literacy Basic education on the importance of savings and powerful effect of compound interest is esoteric * Asset Diversification Despite high barrier to entry, savings are used primarily to buy real estate assets 5 Ea Simplicity of Use Brokerage platforms have a high learning curve that is not intuitive for retail investors Cost to Invest Buying full lot of shares are prohibitively expensive for the average retail investor

Slide 6

Outdated mobile experiences paired e with high minimums for blue chips === . creates an opportune moment for disruption in brokerage industry e - ) x - VinGROUP MASAN Vietcombank # thegioididong GROUP $381 $613 $417 $551 per full lot per full lot per full lot per full lot

Slide text above is read directly from the Anfin deck PDF embedded on this page.