Singapore-based digital wealth advisory platform Endowus has announced an additional raise of $17.5 million follows from their $35 million raise last year to take the total for this round to $52.5 million.

The firm said in a statement on last Thursday that the funding increased its total funding to over $110 million.

New investors include Malaysia-based OSK Ventures and Asia Companion Fund (ACF) managed by the Wells Investment and JLIN LLC, the mission-driven firm established to make positive impact by professional basketball player Jeremy Lin. This is ACF’s first FinTech investment in Asia.

Meanwhile, existing investors that committed additional capital to the company’s growth include leading global technology investor Prosus, the largest consumer internet company in Europe by asset value, as well as global financial institutions, UBS AG and MUFG Innovation Partners.

Endowus has been intentional in building out its investor base to those that are aligned with the mission and vision of the company and will leverage the expertise and experience to augment its efforts to focus on helping individuals invest better.

The new funding will facilitate the continued expansion of Endowus’ growth and services across Asia’s major wealth hubs of Singapore and Hong Kong.

Heavy investments in talent and technologies including its industry leading adoption of artificial intelligence (AI) to enhance the client experience and operational efficiency of the company.

Endowus will continue to enhance its offerings to its core mass affluent and high-net-worth client bases, with an emphasis on its leadership in solving for better access, better advice, and better conflict-free fees.

It is also committed to expanding investment offerings for alternatives including hedge funds and private market investors under its Endowus Private Wealth (EPW) brand working with the leading global General Partners (GPs) such as Apollo, Ares, Blackstone, Blue Owl, Carlysle, EQT, KKR, Partners Group, and many others.

“Endowus’ remarkable growth over the past five years is due to the trust our customers, shareholders, partners and the community have placed in us,

“Our responsibility is to continuously evolve and grow to deliver value to all stakeholders,” said Samuel Rhee, Co-founder and Chairman of Endowus.

“The commitment to bring the best global practices of transparency, integrity and fiduciary duty to our industry has brought strong support from like-minded partners who share our vision to transform the wealth management industry for the better and we are excited to welcome high-quality investors who are aligned to our mission,

“The focus now is to continue to invest in talent and technologies to grow well with our clients,” he added.

Meanwhile, Gregory Van, Co-founder and Chief Executive Officer of Endowus, said the last few years of hypergrowth have given the firm and its shareholders confidence in the firm’s ability to achieve sustainable compounding growth.

“Endowus is building multiple compounding businesses that ride on many structural advancements. The desire for aligned advice, better access at lower cost, trillions in generational wealth transfer, adoption of artificial intelligence all need to be met to serve our clients better,

“It is early days for Endowus and the positive impact from the compounding growth will be made on our client’s lives and the industry more broadly,” he added.

Founded in 2017, Endowus is an independent digital wealth platform with entities licensed by the Securities & Futures Commission of Hong Kong and Monetary Authority of Singapore.

The firm has raised a total of over $110 million in funding from investors including UBS, EDBI, Prosus Ventures, Lightspeed Venture Partners, Citi Ventures, MUFG Innovation Partners, Singtel Innov8, Samsung Ventures, SBVA, OSK Ventures, Z Venture Capital, and ACF – a joint venture between JLIN LLC and The Wells Investments.

“We firmly believe Endowus stands apart in this category, with its unique value propositions, exceptional team, and great execution. True innovation happens slowly and then fast,

“We look forward to the company accelerating the technological innovation, application of AI and exceptional user experience in the wealth industry across Asia,” said Martin Tschopp, Chief Executive Officer of Prosus Ventures.

Robert Kim, Managing Director, JLIN LLC and Asia Companion Fund (ACF), said the firm’s investment into Endowus is a reflection of its belief in Endowus’ mission and vision.

“We were drawn to the leadership’s focus on serving all their stakeholders and making an effort to help them flourish – clients, employees and communities,

“We believe this servant leadership will continue to help Endowus build a resilient culture and propel its growth,” he said.

He added the firm believes the Endowus team has the integrity and mission focus to achieve its vision of transforming the wealth management and pension industry, thereby solving the biggest challenges society is facing in retirement adequacy and alleviating old age poverty.

Endowus recently celebrated its five-year milestone since officially launching in Singapore in 2019, with group assets exceeding $7 billion as of November 2024.

The firm works with over 80 leading global asset managers across all major asset classes – cash management, fixed income, equities, private equity, private credit, hedge funds and alternatives – in order to serve its clients across their private wealth and public pension wealth.

Carret Private Capital (CPC), the multi-family office majority-owned by Endowus serving ultra-high-net-worth families, also plays a strategic role in raising the group’s service of clients across a wide range of segments.

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