SC Ventures Invests in Financial Planning Advisor BetterTradeOffby Fintech News Singapore April 12, 2023
BetterTradeOff (BTO), a Singaporean fintech offering online financial advisor solution, has secured an undisclosed sum from Standard Chartered’s investment arm SC Ventures, according to a report by The Edge Singapore.
Standard Chartered Bank has an existing partnership with BTO in April 2021 to launch its online financial planning solution named SC Goals Planner that is available on SC Online Banking and SC Mobile.
This investment will be used to help BTO make its next phase of technological enhancements as well as geographical expansion into key markets in Asia and beyond.
BTO currently has a presence in seven markets namely Singapore, Malaysia, Hong Kong, the Philippines, UAE, Switzerland and the Netherlands. The firm is said to be eyeing U.S. expansion plans.
The firm aims to revolutionise financial advice with an online solution that helps simplify and demystify financial planning.
BTO’s solution is utilised across three distinctive business lines; a white-label and API based enterprise solution for financial institutions; a SaaS solution for financial advisers; and financial planning platform for consumers.
Alex Manson who heads the SC Ventures said,
“We invested in BTO because the solution helps people to proactively plan their future, addressing scenarios such as inflation or recession.”
He added that the investment arm will also be helping BTO to scale its offering.