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Singapore wealth management firm Endowus raises USD35m funding


Singapore-based digital wealth platform Endowus has secured USD35m in its latest funding round, attracting new investors such as Citi Ventures, MUFG Innovation Partners, and four of Asia's wealthiest families with business interests ranging from banking to real estate across Singapore, Southeast Asia, and Greater China. Existing investors, including UBS Next and Lightspeed Venture Partners, also participated. Despite challenging market conditions, Endowus reported its group assets have surpassed USD5bn, and in 2022, the firm achieved an 80% organic revenue growth. The new capital will be used to expand Endowus' presence in core markets of Singapore and Hong Kong, aiming to offer conflict-free, fee-only wealth management to a wider segment of clients. Endowus plans to further digitise personal savings, private wealth, and public pensions, tackling key issues like retirement adequacy with a transparent, client-first approach.

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