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Wealthtech startup Syfe raises $27 Mn in new round

Entrackr · 4m

Singapore-based saving and investment platform Syfe has raised $27 million (Rs 226 crore) in funding from Valar Ventures and Unbound, and new investment from two UK family offices. The company has raised $79 million to date and is backed by leading global investors including Peter Thiel’s Valar Ventures, Unbound and partners from DST. The proceeds will be used for growth across Asia, with new products and innovations to be rolled out in each of Syfe’s markets. To fuel this development, Syfe will also be investing significantly to expand its engineering and product team and capabilities at its tech headquarters in Gurugram. Led by Dhruv Arora, Syfe caters to the different wealth needs of individuals with diversified proprietary portfolios, cash management solutions and brokerage. It has customers from 60 countries. According to Syfe, its inception and development are firmly rooted in India while serving customers in Singapore, Hong Kong and Australia. In Singapore alone, Syfe claims to manage multiple billion dollars in assets and over 5% adult citizens are using the platform to achieve their financial goals.