Endowus, a digital wealth advisory platform, has closed an additional US$17.5 million in funding, bringing the total raised in its latest round to US$52.5 million.
This increases Endowus’ total funding to date to over US$110 million.
The funding round included participation from existing investors Prosus Ventures, UBS, and MUFG.
New investors include OSK Ventures, The Wells Investment, and JLIN LLC, an impact-driven fund established by professional basketball player Jeremy Lin.
The funds are expected to support the company’s continued growth across key markets in Asia, particularly Singapore and Hong Kong.
Endowus reported that its group client assets have surpassed US$7 billion (S$10 billion) as of November 2024.
The company marked its fifth anniversary in 2024 and continues to expand its services, offering investment solutions across cash savings, public pension funds, and private wealth assets.
Endowus plans to use the additional funding to enhance its offerings, invest in AI-driven solutions, and scale its operations to better serve mass affluent and high-net-worth clients.
Expansion of its private wealth division, Endowus Private Wealth, will also continue, offering access to alternative investments in partnership with global asset managers.
Samuel Rhee, Co-founder and Chairman of Endowus said,
“Endowus’ remarkable growth over the past five years is due to the trust our customers, shareholders, partners and the community have placed in us. Our responsibility is to continuously evolve and grow to deliver value to all stakeholders.
The commitment to bring the best global practices of transparency, integrity and fiduciary duty to our industry has brought strong support from like-minded partners who share our vision to transform the wealth management industry for the better and we are excited to welcome high-quality investors who are aligned to our mission. The focus now is to continue to invest in talent and technologies to grow well with our clients.”
Gregory Van, Co-founder and CEO of Endowus said,
“The last few years of hypergrowth have given us and our shareholders confidence in our ability to achieve sustainable compounding growth. Endowus is building multiple compounding businesses that ride on many structural advancements.
The desire for aligned advice, better access at lower cost, trillions in generational wealth transfer, adoption of artificial intelligence all need to be met to serve our clients better. It is early days for Endowus and the positive impact from the compounding growth will be made on our client’s lives and the industry more broadly.”
Featured image credit: Edited from Freepik
