Latest news with #SanjeevMalik
Yahoo
2 days ago
- Business
- Yahoo
Syfe secures $80m in Series C funding for Asia-Pacific expansion
Syfe, a digital wealth platform based in Singapore, has announced the completion of its Series C funding round, raising $80m. This includes a new all-equity C2 tranche of $53m at a significantly increased valuation, adding to the earlier C1 raise of $27m in August 2024. Syfe stated that the funding indicates its growing investor confidence in its mission to redefine wealth management across Asia-Pacific. The latest round brings Syfe's total funding to date to $132m and follows its strategic acquisition of Selfwealth, an online investment platform in Australia. This acquisition significantly increased Syfe's presence and user base in the Australian market. The Series C round was led by two UK family offices, with returning investors Unbound and Valar also participating. Syfe founder and CEO Dhruv Arora said: 'This fund raise comes at an exciting time as we grow our presence across the region and expand our offerings. 'In Singapore, Hong Kong, and Australia, nearly half of all adults are in the 'mass affluent' segment, and this segment is growing fast. We're in a great position to serve them with personalised, accessible, and high-quality wealth management at scale.' Syfe has grown significantly over the last 18 months, with total assets now exceeding $10bn. In Hong Kong alone, the business has doubled in size since early 2025. Syfe is prioritising automation and AI-assisted tools to enhance efficiency for clients and internal operations. The company is also making strategic hires to strengthen key capabilities. Recent notable additions include Sanjeev Malik, former managing director at BlackRock, and Dane Ricketts, Syfe's new VP of marketing, who brings extensive experience from Procter & Gamble and Grab. 'Syfe's core business has nearly doubled in the last year, and now expands further with the addition of Selfwealth to the Syfe family,' added Arora. 'This capital will be used to scale our reach and strengthen our leadership position across Singapore, Hong Kong, and Australia. We'll continue investing in innovation, enhancing the customer experience, and expanding our product suite to meet the evolving needs of investors.' "Syfe secures $80m in Series C funding for Asia-Pacific expansion" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Times
4 days ago
- Business
- Business Times
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.
