Singapore-based wealth management platform Syfe has raised $27 million in its latest Series C funding round led by existing backers. The fresh capital injection will be used to scale operations and expand its easy-to-use investment solutions across key regions in Asia Pacific.
Founded in 2017, Syfe has built a user-friendly app that gives retail investors access to a wide range of professionally managed investment portfolios and products traditionally reserved for accredited investors. With over 100,000 users across more than 40 countries since launch, the startup focuses on simplifying wealth management for the masses.
A major issue Syfe addresses is the lack of suitable options available through traditional wealth advisors, whose recommendations are often limited to the offerings of their host institution. Additionally, high fees commonly associated with wealth management make many products inaccessible. Syfe empowers individuals to take control of their investments through its transparent fee structure and partnerships with leading global asset managers.
This approach has seen strong user growth and asset inflows for Syfe. In Singapore, where the platform achieved profitability, average client balances have more than doubled in the past year. Total assets under management are now in the billions, highlighting users' trust in Syfe's investment solutions and services.
The new capital will accelerate Syfe's expansion goals across key developed and emerging markets. Currently live in Singapore, Hong Kong and Australia, Syfe aims to make further inroads and deepen penetration through product innovation and a best-in-class user experience tailored for each region. Acquisitions may also complement its strategic objectives.
For investors and consumers alike, Syfe is democratizing access to sophisticated wealth tools previously out of reach. This funding round affirms the startup's potential to guide more individuals towards secure financial futures through an all-inclusive investment platform.
