Singapore-based investment platform Syfe has secured $27 million in a Series C funding round to accelerate its growth across the Asia Pacific region, focusing on expanding its services in Singapore, Hong Kong, and Australia. With this new capital, Syfe aims to enhance its product offerings and continue its mission to make wealth management more accessible to retail investors in a market where a significant portion of personal financial assets remains in cash and deposits.
Founded in 2017, Syfe launched its app in July 2019, quickly gaining traction by offering a range of investment products traditionally unavailable to retail investors through banks or conventional platforms. The platform now serves over 100,000 users across more than 40 countries, providing access to managed portfolios, fractional investing, cash management solutions, and a brokerage platform. Notably, Syfe partners with major financial institutions like BlackRock, Pimco, and Vanguard to offer institutional-grade products without requiring minimum deposits or additional conditions.
Syfe’s strategy of broadening access to investment opportunities has paid off, as the company reached profitability in Singapore this year. The platform’s assets under management (AUM) have grown significantly, now totaling billions of U.S. dollars. CEO and founder Dhruv Arora, a former UBS investment banker, attributes the platform’s success to its ability to provide diverse investment options at lower fees compared to traditional wealth managers, who often restrict clients to a limited range of products.
This latest funding round brings Syfe’s total raised capital to $79 million, with participation from two U.K.-based family offices and returning investors Valar Ventures and Unbound. Although the company did not disclose its valuation, the new funding will be instrumental in reaching more customers and continuing to develop innovative products. Arora also hinted at potential strategic investments or acquisitions to support Syfe’s growth objectives.
As the Asia Pacific region remains a key market for wealth management, Syfe’s continued expansion could help tap into the vast pool of personal financial assets still held in cash and deposits. The company’s growth is particularly notable as it competes with other investment apps in Southeast Asia, such as Pintu, Ajaib, Bibit, and Pluang from Indonesia, as well as Singapore-based Endowus and StashAway.
