Latest news with #Selfwealth
Yahoo
4 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
Entrepreneur
5 days ago
- Business
- Entrepreneur
Syfe Raises USD 80 Mn in Series C Funding, Focuses on India Tech Expansion
The company recently acquired Selfwealth, a well-established Australian online investment platform, to further solidify its presence in the region. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Syfe, the Singapore-based digital wealth management platform, has raised a total of USD 80 million in its Series C round, with a fresh injection of USD 53 million through a Series C2 all-equity round. This latest round, led by two UK family offices, builds on the USD 27 million raised in Series C1 in August 2024. Existing backers, including Unbound and Peter Thiel's Valar Ventures, also participated in the raise. The newly acquired capital will be used to scale Syfe's engineering and product capabilities, with a strong focus on its technology headquarters in Gurugram. The company's tech team there has already grown by 15% since August 2024, and further expansion is planned. Funds will also be deployed to strengthen operations in Syfe's key markets—Singapore, Hong Kong, and Australia—where the platform is seeing increasing demand among the mass affluent segment. "This fund raise comes at an exciting time as we grow our presence across the region and expand our offerings," said Dhruv Arora, Founder and CEO of Syfe. "In our markets of Singapore, Hong Kong, and Australia, nearly half of all adults fall into the 'mass affluent' category. Our team in Gurugram plays a pivotal role in building a truly global offering that caters to their evolving financial needs." Founded in July 2019 by Arora, Syfe offers a suite of digital wealth solutions, including managed portfolios, cash management tools, and brokerage services. With a focus on access, advice, and affordability, Syfe serves over 60 countries and manages more than USD 10 billion in client assets. The company recently acquired Selfwealth, a well-established Australian online investment platform, to further solidify its presence in the region. Syfe also continues to make strategic leadership hires, including Sanjeev Malik, former Managing Director at BlackRock, and Dane Ricketts, who joins as VP of Marketing from Procter & Gamble and Grab. Licensed in Singapore, Hong Kong, and Australia, Syfe is backed by top global investors and partners with financial giants like BlackRock and PIMCO. With this latest funding, Syfe is set to deepen its market footprint while reinforcing its Indian tech backbone to support rapid product innovation and customer-centric growth.
AU Financial Review
5 days ago
- Business
- AU Financial Review
Singapore's Syfe plans to expand Selfwealth into financial advice
Singapore-based investment platform Syfe Group is expanding into Australia's financial advice sector, and will use funds from an $US80 million capital raise to scale up its local Selfwealth division. Syfe, which is backed by billionaire tech investor Peter Thiel's Valar Ventures, acquired Selfwealth, an ASX-listed online trading platform, earlier this year for $63 million after beating out competition from Bell Financial.
Straits Times
22-04-2025
- Business
- Straits Times
Singapore's Syfe clinches Australia-listed Selfwealth for $54.5 million in cash
The acquisition will make Syfe one of the largest digital wealth platforms in the Asia Pacific., said CEO Dhruv Arora. ST PHOTO: CHONG JUN LIANG SINGAPORE - Singapore-based investment platform Syfe has emerged the winner in a three-cornered fight to buy Selfwealth, one of Australia's largest digital investing platforms. On April 22, Selfwealth shareholders voted in favour of Syfe's all cash A$65 million (S$54.5 million) offer. The acquisition will make Syfe one of the largest digital wealth platforms in the Asia Pacific, said founder and chief executive officer Dhruv Arora. The transaction is expected to be completed on May 7 after all remaining conditions, including necessary court approvals, are met or waived. Selfwealth will then be delisted from the Australian Securities Exchange, and operate as Selfwealth by Syfe. Syfe's group chief operating officer and head of international operations, Ms Samantha Horton, will lead the integration on behalf of Syfe. CEO Mr Arora believes now is the time to strengthen Syfe's presence in Australia. 'Despite the largest intergenerational wealth transfer in history presently underway, a large proportion of Australians are still keeping their wealth in savings accounts, foregoing significant market returns,' said Mr Arora. 'For many, the missing link is objective, transparent advice and access to the right investment solutions. Syfe is well placed to tap into this opportunity through advice and education as well as a low-cost, innovative offering that doesn't compromise on quality,' he said. Mr Arora added that Selfwealth's strong user base and credibility in the Australian market make it a natural strategic fit for Syfe. The acquisition will provide a seamless transition for customers, unlocking access to Syfe's broader suite of investment products and technology-driven solutions over time, while retaining everything that Selfwealth customers presently enjoy, he said. Syfe was set up in 2019 with a goal to make wealth management more accessible and affordable using technology and quality advice. Australia is estimated to have nearly 12 million Australians who have investable wealth of over US$100,000 (S$130,000) and that number is growing. Singapore-grown Syfe had made a non-binding indicative proposal via its parent company Svava to acquire all of Selfwealth for A$65 million. This translated to A$0.28 cash per share. Svava operates wealth management platforms through its Syfe brand in Australia, Singapore and Hong Kong. Svava became the third company publicly entering the foray to buy Selfwealth, following bids from Australia-based Bell Financial Group and AxiCorp Financial Services last year. At A$65 million, Svava's offer was at a 133 per cent premium to Selfwealth's last close share price of A$0.12 on November 12, 2024, being the day prior to Bell's initial offer. Join ST's WhatsApp Channel and get the latest news and must-reads.
