Syfe Raises $27 Million

The Asia Pacific region has long been an important market for wealth management firms with the plethora of developing economies and a burgeoning retail investment market. But there’s still a huge market to capture: About 40% to 45% of personal financial assets in the region are held in cash and deposits as of 2023, according to a report by McKinsey. Singapore-based investment platform Syfe has been working on making wealth management more accessible in the region by offering a variety of investment products and options, all via a smartphone app. The company has now raised a $27 million Series C round to offer more products and hasten its growth in Singapore, Hong Kong and Australia. Syfe was founded in 2017 and launched its app in July 2019, and has since expanded to more than 40 countries and amassed over 100,000 users as it focused on making it easy for retail investors to find and invest in products that are usually not available to them via banks or traditional investment platforms.