Singapore-based Endowus, which aims to «go deeper and broader» in the Asia market, and has received new funding for its regional ambitions.
Endowus has raised over S$23 million in a Series A round from Lightspeed Venture Partners and SoftBank Ventures Asia, it said in an announcement on Thursday.
Endowus will use the funds to rapidly scale up its Singapore business and expand into other key Asia wealth hubs, starting with Hong Kong, the announcement said.
Fast-Growing Platform
Since its end-2019 launch, Endowus has experienced 20 times growth in clients investing on the platform, with 8 times growth in assets under advice. The platform is on track to hit its target of S$1 billion in assets under advice by the second quarter of 2021 in Singapore alone.
Endowus recently announced the launch of ESG-themed portfolios, giving retail investors access to ESG, sustainable, and climate funds.
«The success we’ve seen in Singapore this past year proves that our solutions are meeting the needs of investors, with one in two clients acquired on our platform investing across multiple wealth streams,» Gregory Van, founding partner and chief executive officer of Endowus, said.
