The Asia Pacific region is known for its many emerging economies and growing retail investment market. This has long been an important target market for asset management companies. According to a report by McKinsey, around 40% to 45% of personal financial assets in the region will be held in cash and deposits by 2023. This means that investment practices can target a wider market. Singapore-based investment platform Syfe was founded in 2017 with the aim of making asset management more accessible in the region. Syfe offers a range of investment products and options through its smartphone app. Since its inception, Syfe has reached more than 100,000 users in more than 40 countries. Syfe's goal is to make it easier for retail investors to discover and invest in products that are often out of reach through banks or traditional investment platforms.

Syfe

Lastly, Syfe raised a Series C round of $27 million. This investment will be used to accelerate the company's growth in Singapore, Hong Kong and Australia, bringing Syfe's total raised to $79 million. Two UK-based family offices and returning investors, Valar Ventures and Unbound, also participated in this round. Dhruv Arora, CEO and founder of Syfe, has not yet disclosed the company's valuation. Today, Syfe offers a range of services from managed portfolios, fractional investing, cash management solutions and a brokerage platform. The company also partners with banks and investment firms such as Blackrock, Pimco and Vanguard to offer retail investors access to institutional products. Users do not need to have a minimum deposit or meet additional requirements to benefit from these products. Arora stated that the company generates revenue from fees.

Many people had tried traditional wealth managers, but the advice they were given was always limited to the investment products the institution offered. Even if there were better products on the market, the wealth manager could not offer them. On top of that, the fees for traditional wealth managers were too high. By investing more in development, we will continuously improve the Syfe user experience while bringing even more innovative new products to market. We will also evaluate strategic investment opportunities or acquisition targets that align with our mission and growth objectives.

Dhruv Arora, CEO of Syfe

Syfe reached profitability in Singapore this year and announced that average client assets on the platform have more than doubled since 2023. According to the company, assets under management (AUM) are in the billions of US dollars. Through this investment, Syfe aims to reach more clients and help them grow their wealth. Other investment apps in Southeast Asia include Pintu, Ajaib, Bibit and Pluang. Syfe is often compared to Singapore-based Endowus and StashAway. Syfe is constantly introducing new products and services to differentiate itself in this competitive environment and reach a wider customer base. Syfe's new $27 million investment is an important step in accelerating the company's growth in Asia Pacific. By pushing the boundaries of traditional investment platforms, Syfe aims to reach more retail investors and help them grow their wealth. This investment will enable Syfe to reach more customers, improve the user experience and bring new products to market.