- Syfe raised $27 million in a funding round led by Valar Ventures and Unbound, bringing its total funding to $79 million.
- The funds will be used to accelerate Syfe's growth across Asia, with a focus on expanding its engineering and product teams at its Gurugram tech headquarters.
Singapore-based savings and investment platform Syfe has secured $27 million (Rs 226 crore) in a new funding round led by Valar Ventures and Unbound, with additional investment from two UK family offices.
This brings Syfe’s total funds raised to $79 million to date. The capital will be used to drive Syfe's growth across Asia, focusing on the launch of new products and innovations in each of its markets.
Syfe, led by founder and CEO Dhruv Arora, aims to expand its engineering and product capabilities at its tech headquarters in Gurugram, India.
"This funding will enable us to reach more customers and help them grow their wealth for a better future. Through increased investment in development, we will bring even more innovative new products to market while continuously upgrading the Syfe user experience," said Arora.
He emphasized the importance of Syfe's technology team in this expansion, adding,
"As a proud Indian, I'm very pleased that we will be able to invest further in Indian talent and grow our team here."
Syfe serves customers in Singapore, Hong Kong, and Australia, with a strong focus on India. The platform currently manages multiple billion dollars in assets in Singapore alone, with over 5% of the country’s adult population using Syfe to achieve their financial goals.
Shravin Bharti Mittal, Founder and CEO of Unbound, highlighted Syfe’s operational efficiency and growth in a challenging market, stating,
"Syfe's impressive growth and operational efficiency continue to make it stand out in the fintech space."
As Syfe continues to expand, Mukesh Gupta, Syfe's Chief Technical Officer, expressed excitement for the company's next phase, emphasizing the critical role of the Indian team in driving future innovations.
Edited by Harshajit Sarmah
