Latest news with #Syfe
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
Economic Times
3 days ago
- Business
- Economic Times
Wealthtech platform Syfe closes $80 million funding round, plans to expand tech team in India
ETtech Dhruv Arora, founder and CEO, Syfe Singapore-based wealth management platform Syfe has raised $53 million in a fresh funding round, led by two UK-based family offices. London-based investment firm Unbound and Peter Thiel's Valar Ventures, both existing investors, also participated in the round. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million. Founded by Dhruv Arora, an IIT Bombay alumnus and previously a senior executive at Grofers (now Blinkit), the startup is a savings and investment platform that provides diversified proprietary portfolios, cash management solutions and brokerage services to individuals. While the platform operates in Singapore, Hong Kong and Australia, its technology centre is located in Gurugram. In a statement, the company said that it intends to use these funds to hire more talent for its tech centre in Gurugram. Over the last year, Syfe's headcount has grown by nearly 15% in India. 'Our team, based out of Gurugram Tech Headquarters in India, plays a critical role in driving this expansion and building a truly global offering,' Arora, said in a press release. 'This fundraise comes at an exciting time as we grow our presence across the region and expand our offerings,' Arora added. 'In our markets of Singapore, Hong Kong and Australia, nearly half of all adults are in the 'mass affluent' segment, meaning those who have between a few hundred to a few million dollars in investable assets, and this segment is growing fast.'Last month, Syfe acquired Australia-based online investment platform Selfwealth. The company is also prioritising automation and artificial intelligence adoption for internal operations as well as on the client side.
Time of India
3 days ago
- Business
- Time of India
Wealthtech platform Syfe closes $80 million funding round, plans to expand tech team in India
Singapore-based wealth management platform Syfe has raised $53 million in a fresh funding round , led by two UK-based family offices. London-based investment firm Unbound and Peter Thiel 's Valar Ventures, both existing investors, also participated in the round. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Founded by Dhruv Arora , an IIT Bombay alumnus and previously a senior executive at Grofers (now Blinkit), the startup is a savings and investment platform that provides diversified proprietary portfolios, cash management solutions and brokerage services to individuals. While the platform operates in Singapore, Hong Kong and Australia, its technology centre is located in Gurugram. In a statement, the company said that it intends to use these funds to hire more talent for its tech centre in Gurugram. Over the last year, Syfe's headcount has grown by nearly 15% in India. Live Events 'Our team, based out of Gurugram Tech Headquarters in India, plays a critical role in driving this expansion and building a truly global offering,' Arora, said in a press release. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'This fundraise comes at an exciting time as we grow our presence across the region and expand our offerings,' Arora added. 'In our markets of Singapore, Hong Kong and Australia, nearly half of all adults are in the 'mass affluent' segment, meaning those who have between a few hundred to a few million dollars in investable assets, and this segment is growing fast.' Last month, Syfe acquired Australia-based online investment platform Selfwealth. The company is also prioritising automation and artificial intelligence adoption for internal operations as well as on the client side.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Robo financial adviser Syfe sinks teeth deeper into Hong Kong after US$80 million funding
Advertisement This round includes new all-equity financing worth US$53 million at a significantly higher valuation, according to the fintech start-up 's statement on Thursday. The latest financing brings the company's total funding to US$132 million since it was founded in 2019. Syfe founder and CEO Dhruv Arora said in a Post interview that the firm's latest fundraising transaction would help improve its services and onboarding process in Hong Kong and the broader Asia-Pacific wealth management sector. A robo adviser is an online platform that provides automated financial planning and investment guidance to customers with no human involvement. It uses artificial intelligence algorithms to match available products and services with users' needs. 'Private banking services are often not in reach, yet people want affordable, quality wealth advice and products,' Arora said. 'Syfe across the region, including in Hong Kong, is focused on solving the core needs of investors with simple and innovative products.' Advertisement The expansion plans of Syfe in Hong Kong reflect the city's position as Asia's largest hedge fund and cross-border wealth management hub. The city's asset and wealth management market amounted to more than HK$31 trillion (US$4 trillion) as of end-2023, with 64 per cent of the funding sourced from non-Hong Kong investors, according to data from the Financial Services and the Treasury Bureau.
Entrepreneur
3 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.
