Syfe raises US$53 million in expanded Series C funding round
[SINGAPORE] Wealth platform Syfe announced on Thursday (Jun 5) that it has raised US$53 million in an expanded Series C funding round.
This latest round was a pure equity raise. It adds to the US$27 million secured in August 2024.
Two UK family offices led the expanded Series C round, with existing investors Unbound and Valar participating in the round.
The funding will be used to power Syfe's regional expansion, and make strategic hires. Recent additions to the company include Sanjeev Malik, former managing director at BlackRock.
The wealth platform will also focus on automation and artificial intelligence-assisted tools to enhance efficiency for both clients and operations.
'This capital will be used to scale our reach and strengthen our leadership position across Singapore, Hong Kong and Australia,' said Dhruv Arora, founder and chief executive officer of Syfe.
Syfe's total assets under management has crossed US$10 billion, with its acquisition of Australian investing platform Selfwealth recently completed in May.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
13 hours ago
- Business Times
Indonesia expects to conclude free trade talks with EU by end of June
[JAKARTA] Indonesia said on Saturday that free trade negotiations with the European Union, which have been going on for nine years, are expected to finish by the end of June. Airlangga Hartarto, the chief economic minister for South-east Asia's biggest economy, met with EU Commissioner for Trade Maros Sefcovic in Brussels on Friday. 'Indonesia and the European Union have agreed to conclude outstanding issues and we are ready to announce a conclusion of substantial negotiations by the end of June 2025,' Airlangga Hartarto said in a statement. He did not disclose details about what agreements may have been reached. Representatives for the EU in Jakarta did not respond to a request for comment. The EU is Indonesia's fifth biggest trade partner, with total trade between the two reaching US$30.1 billion last year. Indonesia had a US$4.5 billion trade surplus, Airlangga said. Indonesia and the EU have previously disagreed on the EU's trade rules for products with potential links to deforestation which could affect Indonesian palm oil, as well as Jakarta's ban on exports of raw minerals. Indonesian officials have been motivated to accelerate talks on free trade agreements, keen to diversify the country's export destinations as they deal with US tariff challenges. Seeking to end US trade deficits worldwide, US President Donald Trump announced sweeping 'reciprocal' tariffs that have since been paused until July. Indonesia is facing a 32 per cent tariff rate. REUTERS
Straits Times
15 hours ago
- Straits Times
US judge approves settlement allowing NCAA schools to pay athletes
The approval resolves long-running litigation between the NCAA and student athletes. PHOTO: REUTERS NEW YORK – A United States judge on June 6 granted final approval to a US$2.8 billion (S$3.6 billion) settlement with the National Collegiate Athletic Association (NCAA) that will allow schools for the first time to compensate student athletes for past and future commercial use of their names, images and likenesses. The settlement, approved in a ruling by US District Judge Claudia Wilken in the Oakland, California, federal court, resolves long-running litigation between the NCAA and student athletes. 'Despite some compromises, the settlement agreement nevertheless will result in extraordinary relief for members of the settlement classes,' Wilken wrote. She also said that the deal will 'permit levels and types of student-athlete compensation that have never been permitted in the history of college sports'. The ruling marked a 'historic day for college sports and the rights of athletes', the lead attorneys for the plaintiffs, Steve Berman and Jeffrey Kessler, said in a statement. In a statement, NCAA president Charlie Baker welcomed the judge's ruling. 'Student-athletes will benefit from the rich opportunities they enjoy now, plus far more scholarship opportunities, landmark financial benefits and a streamlined NCAA to support them,' he said. The NCAA denied any wrongdoing in agreeing to settle. The deal faced dozens of objections that it did not adequately compensate athletes or was unfair in other ways. Objectors to the deal now can appeal to the San Francisco-based 9th US Circuit Court of Appeals. The settlement, covering hundreds of thousands of current and former students since 2016, resolved three lawsuits that claimed NCAA rules barring payments to athletes violated US antitrust law. The US$2.8 billion will cover past damages. The plaintiffs' lawyers previously estimated the deal would provide tens of billions of dollars to class members over the next 10 years. Schools will be allowed to pay athletes from funds that universities receive from broadcasts and other commercial sources. The NCAA in April convinced a federal judge in Manhattan to dismiss a lawsuit seeking compensation for thousands of former student athletes who played team sports in college prior to 2016. Those students have filed an appeal. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
AsiaOne
16 hours ago
- AsiaOne
South Korea's Lee Jae-myung, Trump agree to work towards swift tariff deal, Lee's office says, World News
SEOUL/WASHINGTON - US President Donald Trump and South Korea's new president Lee Jae-myung agreed to work toward a swift tariff deal in their first phone call since Lee was elected this week, Lee's office said on Friday (June 6). Trump has imposed tariffs on South Korea, a long time ally with which it has a bilateral free trade deal, and pressed it to pay more for the 28,500 US troops stationed there. Separately, Trump allies have aired concerns about Lee's more conciliatory stance towards China, Washington's main geopolitical rival. Lee, a liberal, was elected on June 3 after former conservative leader, Yoon Suk Yeol, was impeached and ousted. The future of South Korea's export-oriented economy may hinge on what kind of deal Lee can strike with Trump, with all of his country's key sectors from chips to autos and shipbuilding heavily exposed to global trade. His term began on Wednesday. "The two presidents agreed to make an effort to reach a satisfactory agreement on tariff consultations as soon as possible that both countries can be satisfied with," Lee's office said in a statement. "To this end, they decided to encourage working-level negotiations to yield tangible results." Trump invited Lee to a summit in the US and they plan to meet soon, according to a White House official. Analysts say the first opportunity for the two to meet could be at a G7 summit in Canada in mid-June. Lee's office said the two leaders also discussed the assassination attempts they both experienced last year as well as their enthusiasm for golf. Lee underwent surgery after he was stabbed in the neck by a man in January last year, while Trump was wounded in the ear by a bullet fired by a would-be assassin in July. South Korea, a major US ally and one of the first countries after Japan to engage with Washington on trade talks, agreed in late April to craft a "July package" scrapping levies before the 90-day pause on Trump's reciprocal tariffs is lifted, but progress was disrupted by the change of governments in Seoul. Lee said on the eve of the elections that "the most pressing matter is trade negotiations with the United States." Lee's camp has said, however, that they intend to seek more time to negotiate on trade with Trump. While reiterating the importance of the US-South Korea alliance, Lee has also expressed more conciliatory plans for ties with China and North Korea, singling out the importance of China as a major trading partner while indicating a reluctance to take a firm stance on security tensions in the Taiwan Strait. Political analysts say that while Trump and Lee may share a desire to try to re-engage with North Korea, Lee's stance on China could cause friction with the US A White House official said this week that South Korea's election was fair, but expressed concern about Chinese interference in what analysts said may have been a cautionary message to Lee. Speaking in Singapore last week, US Defence Secretary Pete Hegseth said many countries were tempted by the idea of seeking economic co-operation with China and defence co-operation with the United States, and warned that such entanglement complicated defence co-operation. [[nid:718821]]
