The London-based investment business Unbound, two family offices in the UK, and Peter Thiel’s Valar Ventures have contributed a total of $27 million in equity finance to the Singapore-based investment platform Syfe.
The startup’s technological hub is in India, despite the fact that it has licenses to operate in Singapore, Hong Kong, Australia, and more than 60 other nations. The recently received capital will be put to better use by quickening the growth of its product and technical teams in India. The business intends to launch fresh goods and innovations in new markets. In its most recent fundraising round, Syfe has brought in a total of $79 million.
Dhruv Arora, a former senior executive at Grofers (now Blinkit), which Zomato acquired, established Syfe in 2019. The platform’s primary goal is to satisfy individual users’ wealth management needs by providing brokerage services, cash management options, and diversified proprietary portfolios.
Arora underlined Syfe’s dedication to building up its staff and investing in Indian talent. He said the money will help the business reach more clients and help them accumulate wealth. The additional development budget will enable the release of more cutting-edge goods and steadily improve the Syfe user experience. Since the beginning of 2024, Syfe has turned a profit in Singapore, with average customer assets more than doubling since 2023.
The founder and CEO of Unbound, Shravin Bharti Mittal, commended the company for its capacity to grow and turn a profit in a significant market like Singapore, characterizing it as evidence of the strength of Syfe’s team and business plan. He was thrilled to be able to help Syfe through its next stage of expansion and innovation.
Read More – To support small business lending, Flexiloans plans to raise $35 million in equity
