UBS-Backed Fintech Endowus Snags Funds From Prosus, EDBI
(Bloomberg) -- Digital wealth platform Endowus Pte has raised S$35 million ($27 million), led by Prosus Ventures and Singapore's EDBI, to bankroll an expansion in Asia's two regional financial hubs.Â
SoftBank Corp.-backed Z Holdings Corp. joined existing investors UBS Group AG, Singtel Innov8 and Lightspeed Venture Partners in the latest funding round, Endowus said in a statement on Tuesday. Employees of the startup -- the largest shareholder group -- also added to their investment, alongside K3 Ventures and local entrepreneur Wee Teng Wen.
The Singapore-based fintech company plans to double its workforce to 200 by the end of 2022, Endowus co-founder and Chief Executive Officer Gregory Van said in an interview. The company expects to launch operations in Hong Kong in the first half of next year.Â
Endowus is the only digital adviser to Singapore's national pension plan, known as the Central Provident Fund, helping investors access their financial portfolio across cash savings, pension and retirement plans. Since launching its full service in late 2019, the total amount of assets Endowus is offering advice on has surpassed S$1.5 billion.
©2021 Bloomberg L.P.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
