Singapore's Syfe raises USD 30 mln in Series B

Wednesday 14 July 2021 09:33 CET | News

Singapore-based Syfe, a digital wealth management company, has announced that it has closed a SGD 40 million (USD 30 million) Series B funding round.

The fundraise was led by US-based Valar Ventures, the venture capital fund co-founded by Peter Thiel, which led Syfe’s Series A. Existing investors Presight Capital and Unbound also participated in the round. This latest capital injection comes nine months after Syfe’s Series A in September 2020. It brings Syfe’s total capital raise to SGD 70.7 million since 2019, and more than triples the firm’s valuation.

The funds raised will be used to expand into new markets in Asia, invest in top talent and develop more high-quality investment products and services. Syfe has also pledged that everyone in the firm will become a shareholder, allowing all employees to benefit from future growth in the company.

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Keywords: personal finance management, wealth management, funding, digital banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Singapore
This article is part of category

Banking & Fintech