Independent Wealth

Endowus Raises SGD 23 Million to Fuel Its Expansion Plans in Asia

Singapore-based digital wealth advisor Endowus announced that it has completed a SGD 23 million first close of its Series A funding round.

Fintech News reports that the company will use the additional resources and support from its VC partners for its expansion plans in Asia.

This is the first external fundraise for Endowus, which to date has been fully owned and funded by its employees.

Endowus recently launched the industry’s first multi-asset, multi-manager globally diversified Sustainable ESG (Environmental, Social & Governance) investment portfolios for retail investors in Singapore.

In the past year, it has also launched Cash Smart, a cash management solution, and Fund Smart, which allows investors to build custom portfolios from a selection of institutional share-class and trailer-fee free funds curated by the Endowus Investment Office.

 

Gregory Van, Founding Partner and Chief Executive Officer of Endowus said, “We are humbled but excited to have the confidence of Lightspeed and SoftBank Ventures Asia with their new investment in Endowus in support of our mission to help Singaporeans invest better across all their wealth – Cash, CPF & SRS. The success we’ve seen in Singapore this past year proves that our solutions are meeting the needs of investors, with one in two clients acquired on our platform investing across multiple wealth streams. And with the same rigour, we will expand our offerings to other key markets in the region, starting with Hong Kong.”