MICRO-INVESTMENT technology startup Tititada announced on Tuesday (Sep 6) that it has raised US$1.5 million in its pre-seed round led by Golden Gate Ventures.
Launched earlier this year, the Vietnam-based investment platform aims to help Vietnamese achieve financial security through investing.
“The gap for micro-investments has long been recognised, but factors like a digitally-savvy young population, growing young middle class, and a booming domestic public sector are all converging to create a high-growth environment for Tititada,” said Vinnie Lauria, founding partner at Golden Gate Ventures.
The term “micro-investing” is coined by some to refer to the act of investing or saving money in small amounts at a time. It is particularly useful for those who do not have a huge capital to start with.
Founder of Tititada, Giang Nguyen, believes such a trend is currently gaining momentum following changing lifestyles and investment habits in Vietnam, as she noted that more than 70 per cent of individual investors in Vietnam are below the age of 30, according to a survey of 700 participants conducted in December 2021.
“The Vietnamese still do not have a long-term investment mindset, especially when it comes to preparing for retirement. Current societal trends like longer lifespans, an ageing population, and shrinking family sizes would leave many financially insecure when they retire if they do not have a well-defined financial plan in place in their golden years” said Giang.
“Tititada was founded precisely to address this gap in the market – helping the younger generation of Vietnamese kick-start their investment journeys, by investing early, investing safely, and investing smartly.”