A letter from Endowus' Co-founders
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A letter from Endowus' Co-founders

7 Jul
9 Aug

A letter from Endowus' Co-founders

A successful US$35M fundraise, a glimpse of the future, and a sincere Thank You.

Endowus has successfully raised US$35 million in fresh capital in an oversubscribed fundraise. We welcomed new strategic investors who will help propel us in our next stage of growth, and enjoyed the continued strong support from our existing investors. We hope winning the support and validation from leading names in the wealth industry will allow us to gain greater trust from our valued clients.

  • The new investors include Citi Ventures and MUFG Innovation Partners. Citi is a global leader in wealth and a strong global technology leader. MUFG is the largest financial group in Japan, and the largest shareholder of Morgan Stanley, the biggest wealth management company globally. Together with UBS, the biggest private bank in the world, we now have some of the world’s leading wealth managers and private banks supporting us strategically.
  • We also welcome as new investors, four of Asia’s wealthiest families with various operating businesses spanning banking to real estate across Singapore, Southeast Asia, and Greater China including Hong Kong. We believe with our strong network of family offices, we will be able to grow the quality and scale of our wealth business to serve and benefit all of our client’s needs.
  • Existing investors who continued to show strong support and participated in this round include Singapore EDB’s global investment arm — EDBI, Prosus Ventures owned by Naspers — the largest shareholder of Tencent, Lightspeed Venture Partners, Singtel Innov8, and Endowus employees, who remain the majority shareholders of Endowus. 

Today is a truly meaningful day for Endowus — for us as co-founders, for our 150-person strong team, for our valued partners, but most of all, for our clients. You have supported us through your trust in us and in our shared beliefs. The strong support we have received throughout this fundraise, in a very difficult macro environment, emboldens us to continue to pursue our mission that remains the same as Day One: empower people to invest better to live better

To us, this means bridging the gap with technological innovation, providing scalability of professional expertise and uprooting traditional ills of the industry to embrace the conflict-free, independent, fee-only business model, because it leads to better advice, choice, and client outcomes. 

Just as we believe in the power of compounding of financial markets, we believe in the power of compounding when it comes to doing the right thing: 

  • Innovation comes from following a path that nobody has yet taken. From becoming Singapore’s first digital advisor for CPF, SRS & Cash, to launching Hong Kong’s first independent wealth and fund platform, we will continue to chart a new path towards changing for the better the way traditional wealth services have been provided to individual investors. 
  • We have proudly saved our clients an estimated US$40 million in fees to date, through innovating 100% Cashback on trailer commissions, removing all subscription fees, and providing institutional-cost access to individual investors and families.
  • We have started to uproot the way funds and investment products are distributed forever, they can now be bought with transparency, rather than pushed with commissions. Endowus is democratising access and advising client allocations into some of the most sophisticated solutions, including exclusive hedge fund and private market strategies in the world.

Making meaningful change in this world always takes time, and there is a heavy cost involved. However, we are eager for the challenge ahead knowing that our collective efforts will change the future of investing and in making a meaningful impact in people’s lives. We are honoured to be the only digital wealth company to be named a World Economic Forum Technology Pioneer this year, and it is heartening to know that our efforts as a wealthtech company has the power to effectively dismantle the barriers to inclusive opportunities, and create better financial outcomes for all. 

Endowus is humbled to play a growing role in systematically changing the financial industry from the inside-out, championing new best practices and business models to solve big, socio-economic challenges like retirement adequacy across Asia. 

While we acknowledge the importance of today’s milestone, we are most excited about what more we can achieve now for you, our clients. We truly believe we are just at the start of building a generational service with you and for you and your family. You are ultimately our most valued investors — thank you for being part of the journey with us in turning this shared vision into reality. 

Yours Sincerely, 

Samuel Rhee, Co-founder & Chairman

Gregory Van, Co-founder & CEO

And all of us at Endowus.


Read our press release and news coverage here:


Risk Warnings

Investment involves risk. Past performance is not an indicator nor a guarantee of future performance. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down.

This article is not intended to be relied upon as a forecast or research or investment advice, and should not form the basis of any investment or other decisions. The information contained herein is not intended, and should not be construed, as any legal, tax, regulatory, accounting or financial advice. If you would like investment, accounting, tax or legal advice, you should consult with your own professional advisors regarding your individual circumstances and needs.

The information in this article may not be suitable for all investors. You are responsible for any action that you take or decision that you make in reliance on any content in this article, and you agree that Endowus HK Limited (“Endowus”) is not liable under any circumstances.

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Neither the information, nor any opinion, contained in this article constitutes a recommendation, offer or solicitation  by Endowus or its affiliates to you to buy or sell any securities, collective investment schemes or other financial instruments or services, nor shall any such security, collective investment scheme, or other financial instruments or services be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.

This is not intended to be an invitation or offer made to the public to subscribe for any financial product or to enter into any transaction.

Accuracy of Information

Whilst Endowus has made reasonable efforts to provide accurate and timely information, there may be inadvertent delays, omissions, technical or factual inaccuracies or errors in any such information. Endowus does not warrant or represent that the information in this article is correct, accurate or reliable.


Any opinion or estimate above is made on a general basis and none of Endowus, nor any of its affiliates, representatives or agents have given any consideration to nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Opinions expressed herein are subject to change without notice.  

Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this article are subject to market influences and contingent upon matters outside the control of Endowus and therefore may not be realised in the future.

In presenting the information above, none of Endowus, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances.

This article has not been reviewed by the Securities and Futures Commission of Hong Kong.

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