August 16, 2024: Syfe has has secured $27 million investment from its exisiting and new investors, to propel its expansion in the Asian markets, also help accelerate new product development and innovations to cater to Syfe’s target market.
Syfe will further invest capital to broaden its engineering and product team at Syfe and strengthen its capabilities at its Gurugram tech headquarters.
The company which is celebrating its 5 years, is an investment platform offering Managed Portfolios, Brokerage services, and Cash Management solutions to help people build wealth for a better future.
“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 Dhruv Arora, Founder and CEO of Syfe.
Syfe Plans to Invest More to Grow Indian Talent Base
“Our technology team will be a crucial enabler of this expansion, without their skill and hard work we would not have been able to achieve our success to date, nor would our future plans be able to take flight. As a proud Indian, I’m very pleased that we will be able to invest further in Indian talent and grow our team here,” Arora added.
“Syfe’s impressive growth and operational efficiency continue to make it stand out in the fintech space. In the current environment, the company’s ability to scale and reach profitability in a key market like Singapore is a testament to the strength of its business model and team. We are excited to continue supporting Syfe as it enters this next phase of growth and innovation,” added Shravin Bharti Mittal, Founder and CEO of Unbound.
The company is presently serving customers in Singapore, Hong Kong, and Australia.
“Since its inception in 2019, Syfe has expanded across Asia and added countless new user focused innovations, fuelled by the team we have built in India. I’m proud of the impact engineering has had in building up Syfe over the years. The next phase of growth will see a significant expansion of our India team and we are excited for the challenge of taking Syfe to the next level,” added Mukesh Gupta, Chief Technical Officer, Syfe.
The latest all-equity round have investment from existing investors including Valar Ventures and Unbound, and new investment from two UK family offices.
