A letter from Endowus' Co-founders
Endowus Insights

Leap into prosperity this CNY 💰     Get an $88 head start to growing your wealth.

Leap into prosperity this CNY 💰Get a $88 head start to growing your wealth.

A letter from Endowus' Co-founders

Aug 2023
Aug 2023
Endowus has raised US$35 million (S$47million) in fresh capital in an oversubscribed fundraise. The new investors include Citi and MUFG.

Endowus has successfully raised US$35 million (S$47 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:


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Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus Singapore Pte. Ltd. (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. 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 (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Endowus has raised US$35 million (S$47million) in fresh capital in an oversubscribed fundraise. The new investors include Citi and MUFG.

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