Singapore-based wealthtech Syfe lands $27m Series C funding
Syfe, a Singapore-based digital savings and investment platform, has closed a $27 million Series C funding round.
Syfe bags $27 million Series C funding
The all-equity funding round adds to the firm’s $30 million Series B in 2021 and takes its total funding raised to date to $79 million.
The Series C featured backing from existing shareholders Valar Ventures and Unbound alongside new investment from two unnamed UK family offices with “interests and investments in the fintech and banking sectors”.
Launched in July 2019, Syfe offers brokerage services, managed investment portfolios, and cash management solutions.
The wealthtech, which claims to have achieved profitability in Singapore in “early 2024”, says it has experienced a “significant increase” in both new customers and assets under management, claiming that average client assets have more than doubled since 2023.
It plans to use the latest cash infusion to speed up product development, with the aim to introduce new services in its newest markets of Hong Kong and Australia.
Dhruv Arora, founder and CEO of Syfe, states that the company will also be “assessing strategic investment opportunities or acquisition targets aligned with our mission and growth objectives”.
