The Singapore-based platform has secured new strategic investors in heavyweights UBS, Samsung and Singtel Innov8, to fund its expansion in Singapore and Hong Kong.
UBS will be an «important strategic partner,» while Samsung and Singtel will aid Endowus in mobile technology expertise and customer acquisition, extending its reach and deepening engagement in the region, the company announced in a statement on Thursday.
«Combining their expertise in wealth management, consumer technology, and digital infrastructure, we are confident in delivering on our promise to democratise wealth management through technology,» Gregory Van, Endowus CEO, said in the announcement.
UBS is investing in Endowus through its $200 million UBS Next portfolio that targets fintech.
Fast-Growing Company
Since its launch in Singapore in 2019, Endowus' total amount of assets under advice has surpassed $743 million, according to the company.
Endowus recently announced the launch of ESG-themed portfolios, giving retail investors access to ESG, sustainable, and climate funds. In April 2o21, the company said it would be expanding into other key Asia wealth hubs, starting with Hong Kong.
