Syfe, Asia’s leading saving and investment platform, today announced that it has closed a USD 27 million funding round, increasing its valuation and bringing total funds raised to USD 79 million. The latest investment has been achieved amidst a challenging funding environment, with funding in Asia at its lowest level since 2015. Despite the broader economic challenges, Syfe became profitable in its home market Singapore in early 2024, driven by a focus on efficient growth. This approach has led to a significant increase in both new customers and assets under management, with average client assets more than doubling since 2023. The new funding will be used to accelerate product development, enabling Syfe to bring more innovative investment tools to market. This will include launching new verticals in its newest markets, Hong Kong and Australia, to match the holistic offering of managed investment portfolios, cash management solutions and full-fledged brokerage...