Syfe, an Asian savings and investment platform, has successfully raised US$27 million in its latest funding round, bringing its total raised capital to US$79 million.
The all-equity funding round included participation from two UK family offices with interests in fintech and banking, as well as continued support from existing investors Valar Ventures and Unbound.
The newly secured funds will Seife The company plans to accelerate product development, introduce innovative investment tools and expand its offerings in new markets such as Hong Kong and Australia.
The funding will also pave the way for Syfe to explore strategic investments and potential acquisitions.
Syfe has reported achieving profitability in its home base of Singapore in early 2024.
This profitability has been accompanied by significant growth in client numbers and assets under management, with average client assets more than doubling since 2023.
Dhruv Arora, Founder and CEO, Syfe said:
“Securing high quality investment in the current fundraising environment marks a significant milestone not only for Syfe, but for consumer digital asset management businesses across the region.
“The amount raised and the addition of new investors underscores our confidence in our vision and ability to deliver impressive, efficient and profitable growth in Singapore.”
Shravin Bharti Mittal, founder and CEO of Unbound, added:
“Syfe’s impressive growth and operational efficiency continue to stand out in the fintech space.
“The company’s ability to scale and achieve profitability in a key market like Singapore in the current environment is a testament to the strength of its business model and team. We are pleased to continue supporting Syfe as it moves into its next stage of growth and innovation.”
