Endowus, a digital wealth advisory platform, has closed a further US$17.5 million in funding, bringing the overall raised in its newest spherical to US$52.5 million.
This will increase Endowus’ complete funding to this point to over US$110 million.
The funding spherical included participation from current buyers Prosus Ventures, UBS, and MUFG.
New buyers embody OSK Ventures, The Wells Funding, and JLIN LLC, an impact-driven fund established by skilled basketball participant Jeremy Lin.
The funds are anticipated to help the corporate’s continued development throughout key markets in Asia, notably Singapore and Hong Kong.
Endowus reported that its group consumer belongings have surpassed US$7 billion (S$10 billion) as of November 2024.
The corporate marked its fifth anniversary in 2024 and continues to broaden its companies, providing funding options throughout money financial savings, public pension funds, and personal wealth belongings.
Endowus plans to make use of the extra funding to boost its choices, put money into AI-driven options, and scale its operations to raised serve mass prosperous and high-net-worth purchasers.
Growth of its personal wealth division, Endowus Personal Wealth, may also proceed, providing entry to different investments in partnership with world asset managers.
Samuel Rhee, Co-founder and Chairman of Endowus stated,
“Endowus’ outstanding development over the previous 5 years is as a result of belief our clients, shareholders, companions and the neighborhood have positioned in us. Our duty is to repeatedly evolve and develop to ship worth to all stakeholders.
The dedication to carry the very best world practices of transparency, integrity and fiduciary responsibility to our business has introduced sturdy help from like-minded companions who share our imaginative and prescient to rework the wealth administration business for the higher and we’re excited to welcome high-quality buyers who’re aligned to our mission. The main focus now’s to proceed to put money into expertise and applied sciences to develop nicely with our purchasers.”
Gregory Van, Co-founder and CEO of Endowus stated,
“The previous couple of years of hypergrowth have given us and our shareholders confidence in our skill to realize sustainable compounding development. Endowus is constructing a number of compounding companies that trip on many structural developments.
The will for aligned recommendation, higher entry at decrease price, trillions in generational wealth switch, adoption of synthetic intelligence all should be met to serve our purchasers higher. It’s early days for Endowus and the optimistic influence from the compounding development can be made on our consumer’s lives and the business extra broadly.”
Featured picture credit score: Edited from Freepik
