Singapore’s digital wealth advisory platform Endowus raised additional $17.5 M funding
After raising $35 million last year, Singapore-based digital wealth advisory platform Endowus has announced an additional $17.5 million to bring the total amount raised for this round to $52.5 million.
The funding raised the company’s total funding to more than $110 million, the company said in a statement last Thursday.
OSK Ventures, based in Malaysia, the Asia Companion Fund (ACF), which is run by Wells Investment, and JLIN LLC, a company founded by professional basketball player Jeremy Lin with the goal of making a positive impact, are among the new investors. ACF’s first FinTech investment in Asia is this one.
Global financial institutions UBS AG and MUFG Innovation Partners, as well as leading global technology investor Prosus, the largest consumer internet company in Europe by asset value, have also contributed additional funds to the company’s expansion.
By deliberately expanding its investor base to include people who share the company’s goals and objectives, Endowus will be able to use its knowledge and experience to support its efforts to assist people in making better investment decisions.
The additional funding will help Endowus continue to grow and provide its services throughout Singapore and Hong Kong, two of Asia’s most important financial centers.
Significant investments in technology and personnel, including its industry-leading use of artificial intelligence (AI) to improve customer satisfaction and business operations.
With a focus on its leadership in finding solutions for better access, better advice, and better conflict-free fees, Endowus will keep improving its offerings to its core mass-affluent and high-net-worth clientele.
Under its Endowus Private Wealth (EPW) brand, it is dedicated to growing its investment options for hedge funds and private market investors. It collaborates with top global General Partners (GPs) like Apollo, Ares, Blackstone, Blue Owl, Carlysle, EQT, KKR, Partners Group, and many more. “Endowus’ remarkable growth over the past five years is due to the trust our customers, shareholders, partners and the community have placed in us,
“Our responsibility is to continuously evolve and grow to deliver value to all stakeholders,” said Samuel Rhee, Co-founder and Chairman of Endowus.
“The commitment to bring the best global practices of transparency, integrity and fiduciary duty to our industry has brought strong support from like-minded partners who share our vision to transform the wealth management industry for the better and we are excited to welcome high-quality investors who are aligned to our mission,
“The focus now is to continue to invest in talent and technologies to grow well with our clients,” he added.
