Singapore Digital Wealth App Scores Money From UBS, Samsung
- Singtel Innov8 also participates in the fundraising round
- Endowus aims to become leading automated adviser in Asia
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Digital wealth platform Endowus Pte has secured investments from UBS Group AG, Samsung Ventures and Singtel Innov8 to fuel expansion in Singapore and Hong Kong.
Zurich-based UBS is putting an unspecified amount of its own money into Endowus through UBS Next, a $200 million fund that takes direct stakes in early-stage fintech firms, the Singapore-based company said in a statement on Thursday. The additional capital brings the total size of the firm’s Series A funding round to $22 million, including earlier investments from Lightspeed Venture Partners and SoftBank Ventures Asia, according to the startup.