Syfe Officially Launches in Australia, Offers Digital Brokerage Servicesby Fintech News Singapore August 11, 2022
Singaporean robo advisor Syfe announced that it has officially launched in Australia, its third market after Hong Kong in the last quarter.
Syfe will first roll out its digital brokerage offering and has built a unique offering for investing into a diversified portfolio of US stocks, ETFs and crypto.
The robo advisor added that it will offer free monthly trades and in-app discovery tools for insights and market data, coupled with the ability to invest securely and safely in crypto. Syfe will also provide customer support 24/7.
The platform will offer real-time funding so investors have full control of their money, a seamless user experience, and high quality, real-time data for stock analysis powered by global news provider Dow Jones and leading financial data company Factset.
Syfe’s expansion efforts accelerated at the back of its US$30 million Series B funding round in July 2021 bringing its total funds raised to US$52.4 million to date.
The firm is backed by Peter Thiel-backed Valar Ventures, Presight Capital and Unbound among others.
In July, Syfe said that it has over 100,000 customers in Singapore following three years of operations.
“With inflation and rising interest rates, people across Asia-Pacific are looking for new ways to grow their wealth affordably. Despite current market conditions, investors continue to be resilient and focused on long-term wealth building.
We see huge opportunities in the region as a whole and especially Australia, given the under penetration of wealth management solutions in the market. Our ambition is to accelerate our growth, leveraging our proven success in Singapore to grow wealth for everyday investors in the market,”
said Dhruv Arora, CEO and Founder of Syfe.
“Our aim is to be the long-term partner of choice for Australian retail investors. We see a huge opportunity in Australia to offer investors an all-in-one platform at a fraction of the cost that traditional institutions charge.
What we know is that education is critical in addressing barriers to entry and empowering existing investors and Syfe is here to support Australians with the right quality insights and education tools, on their investment journey,”
said Samantha Horton, Chief Business Officer of Syfe.