Endowus Raises US$35M to Deepen Presence in Singapore and Hong Kongby Fintech News Singapore August 10, 2023
Digital wealth management platform Endowus announced that it has raised US$35 million in its latest funding round to deepen its presence in the Singapore and Hong Kong markets.
The fundraise was joined by new investors Citi Ventures and MUFG Innovation Partners, as well as four Asian billionaire families.
Existing investors that have participated in this round include UBS Next, Singapore-based global investor EDBI, Prosus Ventures owned by Naspers, Lightspeed Venture Partners, Singtel Innov8, and Endowus employees.
Endowus is the first digital advisor for Singapore’s CPF-IS (Central Provident Fund Investment Scheme) and announced that it had surpassed over S$1 billion of pension assets.
Samuel Rhee, Co-founder and Chairman of Endowus said,
“This successful fundraise at a critical time in the growth of the company is a validation of what we have built so far, and demonstrates the strong belief in the team’s ability to execute in building the digital wealth platform of the future.
We are ready to embark on the next stage of growth targeting exciting new opportunities that will propel Endowus into the dominant position in the digital wealth space across Asia.”
Gregory Van, Co-founder and CEO of Endowus said,
“The next stage of Endowus’ growth will hone in on the personalisation of a joyful and meaningful investing experience for all investors at scale.
As Asia looks to take over as the biggest wealth market globally, embracing technology and artificial intelligence is critical in providing clients with consistent, transparent, better, and more efficient advice at scale.”