Syfe, a savings and investing platform with headquarters in Singapore, revealed that it had successfully concluded a $27 million funding round, raising its valuation to $79 million overall.
In addition to current investors Valar Ventures and Unbound, Syfe said in a statement that the all-equity funding round includes new investment from two family offices in the United Kingdom with interests and investments in the banking and fintech sectors.
The statement claims that by speeding up product development, the company will be able to release more cutting-edge investing tools on the market.
In order to match the comprehensive offering of managed investment portfolios, cash management solutions, and full-fledged brokerage already provided to clients in Singapore, this will involve 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 funding.
The company added that the most recent investment was made in the midst of a difficult financing climate, with funding 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.
According to the report, this strategy has significantly increased the number of new clients and assets under management; 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.
He claims that this funding will help the business reach more clients and increase their wealth for a better future.
“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.
The founder and CEO of Unbound, Shravin Bharti Mittal, noted that Syfe’s remarkable development and operational effectiveness keep it unique in the fintech industry. Unbound has backed Syfe in every investment round since the company’s founding.
