Endowus Raises $17.5M, Boosting Total Funding to $52.5M in a Strategic Round

Endowus Raises $17.5M, Boosting Total Funding to $52.5M in a Strategic Round

Endowus, a prominent digital wealth advisory platform in Asia, has successfully completed a funding round of $52.5 million, elevating its total funding to over $110 million. This significant investment underlines Endowus’s commitment to enhancing its innovative WealthTech solutions and expanding its presence across Asia’s wealth hubs.

Funding Details and Strategic Goals

The recent funding round was led by established investors including Prosus Ventures, UBS, and MUFG. New participants such as OSK Ventures, JLIN LLC, and the Asia Companion Fund (ACF), which is backed by NBA star Jeremy Lin, also contributed to this funding round.

With this additional $17.5 million, Endowus plans to:

  • Enhance its service offerings
  • Expand across wealth hubs in Asia
  • Drive innovation within its WealthTech solutions

Endowus’s Unique Value Proposition

Endowus operates as a fiduciary wealth advisor and a fee-only fund platform, catering to individual investors, family offices, and institutions. Licensed in both Singapore and Hong Kong, the platform offers a diverse range of services, including:

  • Cash management
  • Equities
  • Private equity
  • Hedge funds

Notably, Endowus is the first digital advisor in Singapore to provide comprehensive investment solutions that encompass cash savings, Central Provident Fund (CPF), and Supplementary Retirement Scheme (SRS) savings.

Growth and Future Investments

With client assets exceeding $7 billion, Endowus is focused on investing in talent and technology, particularly in the adoption of artificial intelligence to improve operational efficiency and enhance client experiences. The platform also aims to expand alternative investment offerings under the Endowus Private Wealth brand, collaborating with leading General Partners such as Apollo, Blackstone, and KKR.

Leadership Perspectives

Samuel Rhee, co-founder and chairman of Endowus, emphasized the importance of trust from customers, shareholders, and partners, stating, “Endowus’ remarkable growth over the past five years is due to the trust our customers, shareholders, partners, and the community have placed in us.” He expressed commitment to evolving and delivering value to all stakeholders.

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Martin Tschopp, CEO of Prosus Ventures, remarked, “We are thrilled to reiterate our belief in Endowus with our repeat participation in funding the next leg of growth for the company. We firmly believe Endowus stands apart in this category, with its unique value propositions, exceptional team, and great execution.”

For further insights into wealth management in Asia, visit WealthManagement.com.

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