Singapore-based digital wealth platform Endowus secures $35 million in funding to expand its wealth management services in Singapore and Hong Kong, focusing on personalization and AI-driven advice.
Facts
- Endowus raises $35 million in its latest funding round to support expansion in the regional wealth market.
- Existing investors including UBS Next, EDBI, Prosus Ventures, Lightspeed Venture Partners, and Singtel Innov8 participate, along with new investors Citi Ventures and MUFG Innovation Partners.
- Four of Asia’s wealthiest family offices also contribute to the funding round.
- Endowus plans to use the funding to scale and strengthen its presence in Singapore and Hong Kong.
- The company has achieved significant commercial success, with group assets surpassing $5 billion and pension assets exceeding S$1 billion.
- Endowus recently expanded its service offerings, including passive index funds and the Endowus Private Wealth service.
- The company launched in Hong Kong, positioning itself as an independent, commission-free, and conflict-free digital wealth advisor.
- CEO Gregory Van envisions personalized and joyful investing experiences at scale using technology and AI.
- Asia’s growing wealth market highlights the importance of technology and AI in delivering advice to clients.
- Endowus aims to provide transparent and fiduciary-based wealth management services, aligning incentives for better outcomes.
