The 1Long founding team
1Long, a wealth management platform in Vietnam, has received US$500,000 in a pre-seed investment round from Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.
The new capital will be channelled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.
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Founded by a team of former investment banking and Y Combinator-backed veterans, 1Long enables individuals to start with as little as 10,000 VND (approximately less than US$1).
It offers two principal savings products, 1Safe and 1Term, designed for flexible savings with annual returns of up to 6.6 per cent and the possibility of earning rewards up to 9 per cent for long-term deposits. The platform allows daily transfers and withdrawals without fees, thus removing barriers to accessing funds.
Moving forward, 1Long aims to expand into investment products, including stocks, bonds, real estate, and additional value-added services such as retirement and tax planning. The platform caters to both domestic and international investors interested in the Vietnamese market.
In Southeast Asia, Vietnam’s fintech sector ranks among the top, with one of the highest growth rates, second only to Singapore, as reported by Acclime Vietnam and Decision Lab.
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“It’s worth noting, according to Motor Intelligence, that the fintech market in Vietnam, while moving at a measured pace, is expected to ultimately surpass US$72 billion by 2029 with a projected 13 per cent compound annual growth rate (CAGR),” said Michael Do, Co-Founder and CEO at 1Long. “This promising trend highlights the vast potential within the sector and aligns perfectly with our mission at 1Long, as we navigate the maturing landscape with optimism and a clear focus on innovation and the financial success of our users.”
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