Endowus, a Singapore-based digital wealth platform provider, raised US$35m in funding.
Backers included Citi Ventures, MUFG Innovation Partners, UBS Next, Singapore-based global investor EDBI, Prosus Ventures owned by Naspers, Lightspeed Venture Partners, Singtel Innov8, four Asian wealth families with various operating businesses spanning banking to real estate across Singapore, Southeast Asia, and Greater China including Hong Kong, and Endowus employees.
The company intends to use the funds to continue scaling its core markets of Singapore and Hong Kong.
Led by Samuel Rhee, Chairman, and Gregory Van, CEO, Endowus is a digital advisor spanning both private wealth and public pension savings, enabling investors grow their money with expert advice and access to institutional investment solutions at low and fair fees. Apart from goals-based investing into automated portfolios professionally curated by Endowus’ Investment Office, clients can also build single and multi-funds portfolios via the Fund Smart solution, where over 300 curated strategies by over 50 global fund managers are accessible at low cost across major asset classes including cash & money market, fixed income, equity, multi-asset and commodities. Additionally, Endowus Private Wealth clients can gain access to hedge funds, private equity, private credit, private real estate and other alternatives.
The company also announced it had crossed a meaningful milestone of over S$1 billion of pension assets managed through its platform in Singapore. Endowus has also continually expanded its service offerings, including the launch of passive index funds in Singapore and CPF, as well as Endowus Private Wealth for high-net-worth clients. Additionally, the firm launched its services in Hong Kong earlier this year.
In 2022, Endowus completed the acquisition of one of Asia’s premier multi-family offices, Carret Private.
Founded in 2017, Endowus has raised a total of US$95m in funding.
FinSMEs
09/08/2023