Endowus Raises US$35 Million in Latest Funding Round: A Triumph Amid Global Fintech Slowdown

Endowus, a leading digital wealth platform based in Singapore, has successfully raised $35 million in its latest funding round. This significant investment comes at a time of a global slowdown in fintech funding but highlights Endowus’ accelerated growth and increasing dominance in the digital wealth space across Asia. The funding round attracted a diverse range of investors, including prominent financial institutions and affluent families with businesses spanning various industries.

Funding Round Details

In this funding round, Endowus welcomed new investors, including Citi Ventures and MUFG Innovation Partners, alongside four of Asia’s wealthiest families with extensive businesses in banking and real estate across Southeast Asia and Greater China. Existing investors who participated in this round included UBS Next, Singapore’s EDBI, Prosus Ventures (owned by Naspers), Lightspeed Venture Partners, Singtel Innov8, and Endowus employees. This diverse investor group reflects the recognition and confidence in Endowus as a significant player in the digital wealth industry.

Importance of Fundraising in the Current Fintech Market

With the current slowdown in fintech funding globally, Endowus’ successful fundraising stands out as a testament to its robust business model and sustained growth. Despite market challenges, Endowus has demonstrated its appeal and ability to attract investment, highlighting its strong position within the industry.

Accelerated Growth and Milestones

Endowus has experienced remarkable growth, with its assets under management now crossing the notable milestone of $5 billion. The firm achieved an impressive organic revenue growth of 80% last year. Additionally, the acquisition of Asia multi-family office Carret Private significantly contributed to Endowus tripling its group revenue, further reinforcing its market presence and expansion.

Unique Position in the Market

One of Endowus’ distinguishing factors is its capability to serve both private wealth and public pension investors. As the first digital adviser for Singapore’s Central Provident Fund Investment Scheme (CPF-IS), Endowus manages pension assets that have exceeded $742 million. This unique position allows Endowus to capture a significant share of the digital wealth sector catering to both individuals and public pension funds.

Endowus recently launched its services in Hong Kong, marking its expansion into a new market. This strategic move showcases Endowus’ ambition to further strengthen its presence across Asia and capitalize on the growing demand for digital wealth management solutions.

Comments from Co-founder and Chairman

In light of Endowus’ achievements and future prospects, co-founder and chairman Samuel Rhee expressed his excitement about the next stage of growth and the exciting opportunities that lie ahead. Rhee believes that Endowus is well-positioned to solidify its dominance in the digital wealth space across Asia.

Endowus’ successful funding round, despite the global fintech slowdown, emphasizes its strong market position and ability to attract notable investors. With accelerated growth and assets crossing the $5 billion mark, Endowus continues to thrive in the digital wealth industry. Its unique position as the only platform serving both private wealth and public pension investors, along with its recent expansion into Hong Kong, sets the stage for further growth and establishes Endowus as a dominant player in the digital wealth space across Asia.

Explore more

Email Marketing Drives Ecommerce Growth and Loyalty

In an era dominated by social media and ever-evolving digital platforms, email marketing has carved its niche as a cornerstone strategy for ecommerce brands seeking growth and customer loyalty. While flashy apps and websites pop up with regularity, emails quietly continue to offer consistent, adaptable solutions for engaging audiences effectively. A cornerstone statistic from the Data & Marketing Association has

Will Validity’s Acquisition Revolutionize Email Marketing?

In a strategic move, Validity has successfully acquired Litmus to revolutionize the email marketing landscape by integrating Litmus’s advanced email optimization and testing capabilities into Validity’s robust platform. Validity, renowned for its expertise in managing CRM data and email verification, aims to construct a comprehensive system that oversees every phase of the email campaign lifecycle. With products such as DemandTools

Can You Stay Ahead in Digital Marketing Innovation?

In the rapidly evolving world of digital marketing, staying ahead of innovation poses a formidable challenge for industry professionals. As technology advances, new tools, strategies, and platforms emerge at a breakneck pace, leaving marketers in constant pursuit of the latest trends. The upcoming digital marketing conference highlights the importance of embracing these technological shifts, urging senior marketing leaders to gather

Can Sender Revolutionize Email Marketing for Small Businesses?

The rapidly evolving landscape of digital marketing presents both opportunities and challenges for small businesses striving to establish their presence amid fierce competition. Email marketing has long been an essential tool in this realm, but the prohibitive costs and complex features of many platforms have frequently hampered access for smaller entities. Against this backdrop, Sender emerges as a compelling alternative—a

Can HPE Eclipse VMware in the Private Cloud Race?

The private cloud market has long been a competitive realm filled with robust technologies and innovative solutions. Among the major players, Hewlett Packard Enterprise (HPE) and VMware stand out for their ongoing rivalry in providing cloud management solutions. The market has witnessed significant shifts, particularly after Broadcom’s operational changes within VMware, prompting several tech giants to position themselves as feasible