Singapore: Robo adviser Syfe gets US$18.6m led by Peter Thiel's Valar Ventures
- FTT Creations
- Sep 23, 2020
- 1 min read
Digital wealth manager Syfe has closed an US$18.6 million Series, a funding round led by PayPal co-founder Peter Thiel's Valar Ventures, which previously backed Xero, TransferWise and German neobank N26. Syfe's funding round also drew an investment from Presight Capital, a venture capital firm founded by Christian Angermayer, a German financier and serial entrepreneur who has co-invested with and has got backing from Mr Thiel.
Other existing investors of Singapore-based Syfe include David Rogers, the former managing director of State Street Global Advisors Paul Redbourn, the former managing director and head of equities at UBS Japan; and Philipp Freise, partner at KKR. The fresh funds raised will be used to enter new markets develop new products and services, hire top talent and enhance Syfe's technology platform.
Andrew McCormack, founding partner of Valar Ventures said, the potential of Asia as a region with a fast growing number of mass affluent consumers aiming to grow their wealth combined with the pedigree of the team and strong traction makes Syfe a very compelling opportunity.
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