Singapore-based investment platform Syfe, established in 2017, has successfully raised $27m in a Series C funding round.
The recent capital injection was led by two U.K.-based family offices, with participation from existing investors Valar Ventures and Unbound, according to a report from TechCrunch.
This funding round brings Syfe’s total raised to $79m.
Syfe has carved a niche in the WealthTech landscape by democratizing access to a variety of investment products through its user-friendly smartphone app. Launched in July 2019, the platform has attracted over 100,000 users from more than 40 countries, offering services like managed portfolios, fractional investing, and cash management solutions, along with a unique brokerage platform.
The newly acquired funds are earmarked for expanding the company’s product offerings and enhancing its presence in key markets such as Singapore, Hong Kong, and Australia. Syfe’s approach to wealth management challenges traditional models by partnering with major financial institutions like Blackrock, Pimco, and Vanguard to provide retail investors access to institutional products without the typical entry barriers.
Syfe’s CEO and founder, Dhruv Arora, a former investment banker with UBS in Hong Kong, highlighted, “Many people had tried traditional wealth managers, but the advice they were being given was always limited to the investment products that institution offered.
“Even if there were better products on the market, the wealth manager could not offer them. On top of that, the fees of the traditional wealth managers are very high.”
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