Singapore-based investment platform Syfe has secured $27 million in equity funding from existing investors, including Valar Ventures, led by Peter Thiel, and London-based investment firm Unbound, along with two UK-based family offices.
Although the startup is licensed and operates in Singapore, Hong Kong, and Australia, and has customers from over 60 countries, its technology center is located in India. The newly raised funds will be used to accelerate the development of its engineering and product teams in India. The company also plans to introduce new products and innovations in additional markets. With this latest round of funding, Syfe has raised a total of $79 million.
Syfe was founded in 2019 by Dhruv Arora, a former senior executive at Grofers (now Blinkit), which was acquired by Zomato. The platform focuses on meeting the wealth management needs of individuals by offering diversified proprietary portfolios, cash management solutions, and brokerage services.
Arora emphasized Syfe’s commitment to investing in Indian talent and expanding its team in the country. He noted that the funding will allow the company to reach more customers and assist them in growing their wealth. The increased investment in development will facilitate the introduction of more innovative products while continuously enhancing the Syfe user experience. Syfe has been profitable in Singapore since early 2024, with average client assets more than doubling since 2023.
Shravin Bharti Mittal, founder and CEO of Unbound, praised the company’s ability to scale and achieve profitability in a key market like Singapore, describing it as a testament to the strength of Syfe’s business model and team. He expressed excitement about continuing to support Syfe in its next phase of growth and innovation.
