Wealth management platform Finnomena bags US$10m in Series B round

DIGITAL wealth management platform Finnomena has bagged US$10 million in Series B funds in a round co-led by Openspace Ventures and Gobi Partners.

Other participants in the round include Thailand's Premier Advisory Group, Krungsri Bank's corporate venture-capital arm Krungsri Finnovate, Benchachinda Group's investment arm BCH Ventures, and 500 Startups' 500 TukTuks. Angel investors with wealth management expertise also invested in the Series B round, which brought Finnomena's total funding to US$13.5 million.

Founded in 2016, Thailand-based Finnomena offers investment products, financial advice, analysis tools and investment content for its users. The platform has more than 120,000 subscribers with over US$270 million in assets under management . The fresh funds will be used for expansion in Thailand and other South-east Asian markets. The company will also significantly increase its talent pool, strengthen its technology stack, and expand its knowledge hub and product suite to include tax-deductible mutual funds, global managed account exchange-traded funds, as well as a peer-to-peer lending marketplace.

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