SINGAPORE, 05 February 2025 – Syfe, Asia Pacific’s leading saving and investment platform, has made a non-binding indicative offer to acquire Selfwealth (ASX: SWF), one of Australia’s largest digital investing platforms, for A$65 million cash.

During its Series C-1 fundraising round in 2024, Syfe announced its intent to pursue acquisitions as a key growth lever, focusing on expanding its market reach and strengthening its product offering. The proposed acquisition will add Selfwealth’s platform to Syfe’s existing business, significantly expanding its Australian footprint. 

With established operations in Singapore, Hong Kong, and Australia, Syfe is well-positioned to support Selfwealth’s growth while delivering an even stronger digital investing experience to customers across the region. Syfe’s vision for Selfwealth is for it to continue operations as usual, with enhancements over time as it benefits from Syfe’s technology, expertise, and scale.

“As a home-grown Singaporean company, we are proud to be part of the new wave of local fintech players that are scaling globally. This acquisition is a testament to the strength of our business, our ambition, and our belief that wealth management should be accessible and innovative, with the investor experience at core of everything we do,” said Dhruv Arora, Founder & CEO, Syfe.

A strategic fit for Syfe’s growth trajectory

Selfwealth’s strong user base, well-established brand, and investment platform make it a natural strategic fit for Syfe. The acquisition would provide a seamless transition for customers, unlocking access to Syfe’s broader suite of investment products and technology-driven solutions over time, while retaining everything that Selfwealth customers presently enjoy.

“Syfe has built one of the strongest wealth platforms in Asia, trusted by investors in over 60 countries and over 250,000 users in Singapore alone. Having already demonstrated in Singapore how a customer-first approach and disciplined growth can drive real impact, Syfe’s leadership team sees a similar opportunity in Australia. Adding Selfwealth to the Syfe ecosystem strengthens our foothold in the market and accelerates our vision of building Asia Pacific’s most comprehensive digital wealth platform,” added Arora.

Strengthening leadership in the Asia Pacific wealthtech sector

Despite the challenging market environment, Syfe continues to demonstrate resilience and growth, further solidifying its leadership in Asia Pacific’s wealthtech sector. The company reached profitability in early 2024, reinforcing its ability to scale efficiently while delivering long-term value to customers. Over the past year, Syfe has also strengthened its market position, securing SGD$105 million in total funding and expanding its user base to include more than 5% of Singaporean adults, a testament to its growing influence in the financial services sector.

About Syfe

Syfe is Asia Pacific’s leading saving and investment platform, empowering people to build their wealth for a better future. Built on the pillars of access, advice and affordability, Syfe caters to the different wealth needs of individuals with diversified proprietary portfolios, cash management solutions and brokerage. In Singapore alone, Syfe manages multiple billion dollars in assets and over 5% adult citizens are using the platform to achieve their financial goals.

Licensed and operational in Singapore, Hong Kong and Australia, Syfe has customers from 60+ countries. The company has raised SGD 105 million to date and is backed by leading global investors including Peter Thiel’s Valar Ventures, Unbound and partners from DST.