Endowus.com secures funding from group of strategic investors

Endowus.com, a digital wealth platform, has received a fresh investment round, as it works with UBS to bolster its growth efforts.

The Singapore-based FinTech company received the capital from strategic partners UBS AG, Samsung Ventures and Singtel Innov8. Capital also came from its Series A investors, Lightspeed Venture Partners and SoftBank Ventures Asia.

The company did not disclose how much capital it raised.

UBS, which leveraged its $200m investment vehicle for the round, will be a strategic partner for Endowus. The FinTech company claims UBS will support its global expansion efforts.

Endowus also stated Samsung and Singtel will support its technology developments, customer acquisition efforts and boosting its presence in the market.

This investment round comes after a strong 2020 of growth. Endowus’ assets surpassed $1bn in Singapore, coming just 18 months since it launched its services.

The FinTech company claims to be the first and only digital investment advisor for the central provident fund, supplementary retirement scheme and cash.

Its platform provides access to investment products, personalised advice and lower costs on digital investing.

Endowus chairman and chief investment officer Samuel Rhee said, “We are excited to propel Endowus forward with our new strategic partners to enhance the leadership position Endowus has in the digital wealth industry.

“With the combined synergies, Endowus will continue to pioneer the path towards the best digital experience for individual investors to meet their growing needs in saving and investing for the future.  The commitment from our new suite of investors, who are global leaders in their fields, will further fuel our mission of changing the face of wealth management, from solving for retirement to preserving a legacy.”

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