The Singapore-based savings and investing platform Syfe said , that it has completed a $27 million funding round, raising the total amount of money raised to $79 million and improving its valuation.
In a statement, Syfe noted that in addition to current investors Valar Ventures and Unbound, the all-equity funding round includes fresh investment from two family offices in the United Kingdom with holdings in the banking and fintech industries.
The company plans to use the additional capital to speed up product development so that it can release more cutting-edge investment tools on the market.
In order to match the comprehensive provision of managed investment portfolios, cash management solutions, and full-fledged broking already provided to clients in Singapore, this would include launching new verticals in its newest markets, Australia and Hong Kong.
Syfe will be able to evaluate potential acquisition targets or strategic investment opportunities thanks to the cash.
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The company added that the most recent investment was made in the middle of a difficult financing climate, with finance in Asia at its lowest point since 2015.
It was mentioned that the company turned a profit in its home market of Singapore in early 2024, despite the wider economic difficulties, thanks to an emphasis on efficient growth.
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According to the report, this strategy has significantly increased the number of new clients and assets under administration; since 2023, average client assets have more than doubled.
“Securing quality investment in the current fundraising environment is not only a significant milestone for Syfe, but for consumer-facing digital wealth businesses across the region,The amount raised and the addition of new investors underscores the confidence in our vision and our ability to deliver remarkable and efficient growth, leading to profitability in Singapore,” said Dhruv Arora, Founder and Chief Executive Officer of Syfe. Through increased investment in development, we will bring even more innovative new products to market while continuously upgrading the Syfe user experience, We will also be assessing strategic investment opportunities or acquisition targets aligned with our mission and growth objectives,” he added.
About Syfe
Syfe is a digital investment platform that helps people develop money for the future.
Information overload and conflicting objectives leave people who want to better their wealth and financial future without the time, patience, and know-how to invest. Current solutions fail to overcome the friction and challenges of creating wealth, thus people are not maximising their investments and savings.
