The company’s proprietary data-driven algorithm constructs personalized portfolios, making investing accessible to everyone.
SINGAPORE, 17 July 2019 – Digital wealth manager, Syfe, today announced its official launch in Singapore following the approval of the Capital Markets Services Licence from the Monetary Authority of Singapore (MAS) and a successful seed funding round.
Led by UK-based VC fund Unbound, Syfe raised S$5.2 million and is one of the largest seed rounds seen in Southeast Asia. The raise also included personal investments from industry leaders such as David Rogers, MD, State Street Global Advisors, Paul Redbourn, MD & Head of Equities, UBS Japan and Philip Freise, Partner, KKR.
The Capital Markets Services Licence comes after strict reviews and requirements, and is typically reserved for financial institutions with over S$1 Billion assets under management and a track record of at least five years.
Since 2018, Syfe has been building a platform that will appeal to passive investors, challenging the status quo where sophisticated wealth management resources are only available to high-net-worth individuals or institutions. Syfe makes this service accessible for anyone who wants to grow their savings through an automated platform that is both easy to use and affordable — meaning no minimum investment and a low annual fee of 0.65% of the total amount invested.
Unlike other investment solutions, Syfe operates on a risk-based system, moving away from a methodology that solely prioritises returns. The company combines proven investment strategies with an algorithm that is rigorously backtested to give investors customised, globally diversified portfolios that are in sync with their personal risk profiles.
Built by a team of academics, traders and financial engineers, Syfe’s unique investment methodology keeps customer risk managed at all times. This leads to limited portfolio fluctuations or lower temporary losses, while providing benchmark-beating returns.
Dhruv Arora, Founder and CEO of Syfe said: “For too long the investment market has been too confusing and elitist. We believe wealth management should be accessible to as many people as possible, which is why our products embrace both technical sophistication and an easy-to-understand interface. We are confident that Syfe will challenge the status quo and we are looking forward to having a positive impact on the ecosystem.”
Shravin Bharti Mittal, Founder and CEO of Unbound VC noted: “We strongly believe the region is ripe for disruption in the retail finance space. Savings and investments are greenfield areas now, and if the proliferation of other verticals – such as digital payments – is anything to go by, the opportunity will only be bigger. We are excited to partner with Syfe.”
Since its launch, Syfe has already been through a successful closed beta, which is now opening to the public.
Syfe is a digital wealth manager offering professionally managed portfolios to everyone which have previously only been accessible to institutional investors or high-net-worth individuals. Syfe’s proprietary algorithm, developed in-house with state of the art technology and proven investment models, build personalised ETF-based, globally-diversified portfolios for each customer and continuously monitors and adjusts each portfolio to maximise returns and manage risk.
For more information about Syfe please visit: www.syfe.com
Head of Distribution
Matthew de Bakker
Mutant Communications for Syfe
+65 6221 7239