Gregory Van, Co-Founder and CEO of Endowus
Singapore-based fintech company, Endowus, has secured US$35 million in its latest funding round from Citi Ventures and MUFG Innovation Partners, along with four prominent families from Asia involved in diverse sectors ranging from banking to real estate.
Existing investors such as UBS Next, EDBI, Prosus Ventures, Lightspeed Venture Partners, Singtel Innov8, and Endowus employees also participated in this round.
The firm plans to utilise the fresh funds to further expand within its primary markets of Singapore and Hong Kong, aiming to offer unbiased, fee-only wealth management to a larger audience.
Founded in 2017, Endowus is a digital wealth platform in Asia. Licensed by the Monetary Authority of Singapore and the Securities and Futures Commission of Hong Kong, Endowus offers services that cover personal savings, private wealth, and public pensions (such as CPF & SRS in Singapore)through a personalised digital wealth experience.
Also Read: Endowus acquires Hong Kong multi-family office Carret Private Investments
Amid challenging financial market conditions, Endowus reported growth, with group assets surpassing US$5 billion. In 2022, the firm claims it saw an organic revenue increase of 80 per cent and tripled its group revenue following the acquisition of Asia-based multi-family office, Carret Private.
“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. Endowus remains resolute in helping every individual take control of their wealth goals and achieve better outcomes by systematically fixing misaligned incentives and lack of transparency as a true fiduciary and fee-only advisor,” Gregory Van, Co-Founder and CEO of Endowus.
Endowus recently received the World Economic Forum Technology Pioneer title. The firm was also awarded Best Digital Wealth Management at The Asset Triple A Digital Awards 2023 and recognised at Asia Asset Management’s Best of the Best Awards 2023.
Endowus has secured funding totalling US$95 million.
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