Singapore digital investment platform Syfe, has made its entry into Hong Kong, promising the market "smart, affordable and intuitive" financial solutions. The Hong Kong launch is the company's first country expansion since its Singapore launch in 2019 as it accelerates its geographical expansion plans to be present in multiple markets by end 2022.
With its Series B round that took place in July 2021, Syfe has raised US$52.4 million in total funding to date, with the support of some of the world's biggest venture capital firms including Peter Thiel-backed Valar Ventures, partners from DST Global and Unbound.
Licensed by the Monetary Authority of Singapore (MAS), Syfe has secured its licence from the Securities and Futures Commission (SFC) in Hong Kong under Types 1 (Dealing in Securities), 4 (Advising on Securities), and 9 (Asset Management), and regulated by the Securities and Futures Commission (SFC).
Dhruv Arora, founder and CEO of Syfe said: "We see tremendous potential in the Hong Kong market given the current nascent stage of growth for digital wealth management platforms coupled with a high savings rate and rising cost of living. Syfe brings a truly differentiated offering to the market, combining decades of expertise, innovative products at a fraction of the cost that traditional institutions charge.”
Arora added that as Syfe grows its presence in Hong Kong, the company will continue to cater all needs for users hungry for wealth growth. “With Syfe making its entry into Hong Kong, the company is now firmly present in two of Asia's leading wealth management hubs. We will continue to make broad strides toward our vision of being the leading digital investment platform across Asia," said Arora.
Syfe is dedicated to creating authentic portfolios based on passive, long-term investment strategy that minimises costs, the current options include Core (4 Portfolios), which is built for one's essential financial goals; and Themes (5 Portfolios), which function as satellite portfolios to complement the Core, allowing investors to have added exposure to opportunities in Disruptive Technology, Healthcare Innovation, China Growth, Global Income and ESG and Clean Energy.
Get the daily lowdown on Asia's top marketing stories.
We break down the big and messy topics of the day so you're updated on the most important developments in Asia's marketing development – for free.subscribe now open in new window