Singapore-based digital wealth manager Syfe announced that it has successfully closed a SG$25.2 million (US$18.6 million) Series A funding round led by fintech venture capital fund Valar Ventures.
Other participants in the round include Presight Capital, and existing investor Unbound, the UK-based investment firm that led Syfe’s seed funding round in July 2019.
This latest capital injection will allow Syfe to enter new markets, develop new products and services, hire top talent, and enhance Syfe’s technology platform to continue delivering better user experience.
Dhruv Arora, Founder and CEO, Syfe, said:
Dhruv Arora
“This fundraising is a pivotal moment in Syfe’s journey and reflects our investors’ confidence in our team and vision. Since the beginning of the year, we have seen our customer numbers and assets increase by ten times and this fundraising allows us to sharply accelerate our growth to help even more individuals plan, save and build their wealth for the future,”
Founded in 2017 and publicly launched in July 2019, Syfe’s digital wealth management platform aims to challenge the status quo of sophisticated wealth management resources typically being available only to high-net-worth individuals or institutions.
Through Syfe’s automated platform and optional human advisor support, all users – from beginners to experienced investors – can access a wide range of wealth management services.
Syfe is licensed by the Monetary Authority of Singapore (MAS) under a Capital Markets Services (CMS) License for conducting retail and institutional fund management activities.
Featured image: Dhruv Arora, Founder and CEO, Syfe
