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Home Funding Fin-tech firm Endowus $27 million in financing round

Fin-tech firm Endowus $27 million in financing round

The new round brings the total funding the fin-tech firm has raised this year to S$67 million (US$50 million)

Led by new investors Prosus Ventures and EDBI, Endowus, a Singapore-based fin-tech firm, has secured S$35 million (US$27 million) in a new financing round. The round also saw participation from Z Holdings, which is owned by SoftBank and Naver.

The fin-tech firm allows retail, accredited, and institutional investors to put money into the Central Provident Fund – a kind of pension plan in Singapore and other supplementary schemes. With no sales fees and trailer fee rebate, it also provides personalized advice as well as access to funds at a lower cost.

For retail investors, the fin-tech firm also manages multi-asset and multimanager environmental, social, and governance (ESG) portfolios. This involves giving advice and access to solutions previously reserved for institutional or private-banking clients.

Six new satellite portfolios: tech, megatrends, global real estate, China equities, China fixed income, and low volatility fixed income were launched by the fin-tech firm in November.

Surpassing the collective US$468 million they received during the entirety of 2020, the latest investment comes amid a massive surge in funding for Singapore fin-tech firms, which have raised US$725 million in the first half of 2021.

The new round brings the total funding the fin-tech firm has raised this year to S$67 million (US$50 million).

Launched in 2019, the company is spearheaded by Gregory Van, who previously led business development and partnerships for Grab’s payments and tech unit. He was also an investment banker at UBS, who advised private equity and VC firms in the Asia Pacific on fundraising.

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CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.

khushbu
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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