New investors Prosus Ventures, Singapore-based global investor EDBI, and Z Holdings join returning investors UBS, Singtel Innov8 and Lightspeed Venture Partners in Endowus’ latest funding round.
Endowus has raised an additional S$35 million ($27 million) in funding, bringing its funds raised this year to $50 million, as the digital wealth platform aims to accelerate its growth in Singapore and across Asia, it said in an announcement on Tuesday.
The platform’s growing list of strategic partners will help its key growth initiatives, including geographic expansion, roll-out of new product offerings, and further development of its technology platform to enhance client experience.
The company also plans to double its headcount across core functions and strengthen its technology and talent, Endowus said.
Earlier this month, Endowus launched six new satellite portfolios – Technology, Megatrends, Global Real Estate, China Equities, China Fixed Income and Low Volatility Fixed Income, to supplement its Core portfolios in Flagship and ESG portfolios.
Launched in Singapore in 2019, the platform currently has over S$1.5 billion in assets under advice. In April 2021, the company said it would be expanding into other key Asia wealth hubs, starting with Hong Kong.