Things are really heating up in the robo-advisor scene in Singapore lately. Just three weeks ago, I mentioned that StashAway had received in-principle approval for our retail fund management license.
Today, the team behind StashAway was excited to inform me that StashAway had confirmed that it had secured S$3-million for its pre-series A round. The proceeds from the round, which will close this week, will fulfil MAS’s regulatory capital requirements of S$1-million for StashAway’s retail fund management license (guess I learnt something new today), as well as go towards launching the investment service in Singapore, continually innovating the platform, and further advancing the underlying investment strategies.
A Little More Info On The S$3-Mil Funding
The funding round was subscribed by the Rozario family, and Francis Rozario is the Founding Chairman and CEO of Asia Capital and Advisors Pte Ltd. More information on him here. Mr. Rozario will also join StashAway’s …