Endowus latest fundraising round increases to over US$50M from strategic and impact investors, bringing total funding to date to over US$110M as its client assets cross US$7 billion

Endowus closes an additional US$17.5 million (S$24 million) to take the total of its latest fundraising to US$52.5M led by existing investors Prosus Ventures, UBS and MUFG, and joined by new investors OSK Ventures and a new impact fund launched by professional basketball player, Jeremy Lin.

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• The additional US$17.5 million from existing and new investors adds to the US$35 million raised last year and brings total fundraising to date to over US$110 million, supporting Endowus’ leadership in WealthTech in Asia.
• New investors OSK Ventures, JLIN LLC and The Wells Investment all have a strong focus on impact investing, as they look to back Endowus’ mission and vision.
• Total Endowus group client assets had recently surpassed US$7 billion (S$10 billion) in Singapore and Hong Kong, as Endowus continues its push to innovate and transform the wealth management industry in Asia. 

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Singapore, Hong Kong, 9 January 2025 - Endowus, Asia’s leading digital wealth advisory platform has increased its total funding to over US$110 million. An additional raise of US$17.5 million follows from their US$35 million raise last year to take the total for this round to US$52.5M. New investors include Malaysia-based OSK Ventures and Asia Companion Fund (ACF) managed by the Wells Investment and JLIN LLC, the mission-driven firm established to make positive impact by professional basketball player Jeremy Lin. This is ACF’s first FinTech investment in Asia. Existing investors that committed additional capital to the company’s growth include leading global technology investor Prosus, the largest consumer internet company in Europe by asset value, as well as global financial institutions, UBS AG and MUFG Innovation Partners.

Endowus has been intentional in building out its investor base to those that are aligned with the mission and vision of the company and will leverage the expertise and experience to augment its efforts to focus on helping individuals invest better to live better. 

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Samuel Rhee, Co-founder and Chairman of Endowus said, “Endowus’ remarkable growth over the past five years is due to the trust our customers, shareholders, partners and the community have placed in us. Our responsibility is to continuously evolve and grow to deliver value to all stakeholders. The commitment to bring the best global practices of transparency, integrity and fiduciary duty to our industry has brought strong support from like-minded partners who share our vision to transform the wealth management industry for the better and we are excited to welcome high-quality investors who are aligned to our mission. The focus now is to continue to invest in talent and technologies to grow well with our clients.”

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Martin Tschopp, CEO of Prosus Ventures said, “We are thrilled to reiterate our belief in Endowus with our repeat participation in funding the next leg of growth for the company. We firmly believe Endowus stands apart in this category, with its unique value propositions, exceptional team, and great execution. True innovation happens slowly and then fast. We look forward to the company accelerating the technological innovation, application of AI and exceptional user experience in the wealth industry across Asia.” 

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Robert Kim, Managing Director, JLIN LLC and Asia Companion Fund (ACF) said, “Our investment into Endowus is a reflection of our belief in Endowus’ mission and vision. We were drawn to the leadership’s focus on serving all their stakeholders and making an effort to help them flourish - clients, employees and communities. We believe this servant leadership will continue to help Endowus build a resilient culture and propel its growth. We believe the Endowus team has the integrity and mission focus to achieve its vision of transforming the wealth management and pension industry, thereby solving the biggest challenges society is facing in retirement adequacy and alleviating old age poverty.”

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Gregory Van, Co-founder and CEO of Endowus said, “The last few years of hypergrowth have given us and our shareholders confidence in our ability to achieve sustainable compounding growth. Endowus is building multiple compounding businesses that ride on many structural advancements. The desire for aligned advice, better access at lower cost, trillions in generational wealth transfer, adoption of artificial intelligence all need to be met to serve our clients better. It is early days for Endowus and the positive impact from the compounding growth will be made on our client’s lives and the industry more broadly.” 

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The Group recently celebrated its five-year milestone since officially launching in Singapore in 2019, with Group assets exceeding US$7 billion (S$10 billion) as of November 2024. Licensed in Singapore and recently in Hong Kong, Endowus serves as a fiduciary wealth advisor and fee-only fund platform to hundreds of thousands of individual investors, family offices and institutions. 

Endowus works with over 80 leading global asset managers across all major asset classes – cash management, fixed income, equities, private equity, private credit, hedge funds and alternatives – in order to serve its clients holistically across their private wealth and public pension wealth. Endowus is well-known in Singapore as the first digital advisor to offer comprehensive investment solutions across all wealth sources — Cash savings, Central Provident Fund (CPF) savings, and Supplementary Retirement Scheme (SRS) savings. CPF and SRS client pension assets on the platform crossed S$2 billion, seeing over 60% year-on-year growth. 

The new funding will facilitate the continued expansion of Endowus’ growth and services across Asia’s major wealth hubs of Singapore and Hong Kong. Heavy investments in talent and technologies including its industry leading adoption of artificial intelligence (AI) to enhance the client experience and operational efficiency of the company. Endowus will continue to enhance its offerings to its core mass affluent and high-net-worth client bases, with an emphasis on its leadership in solving for better access, better advice, and better conflict-free fees. It is also committed to expanding investment offerings for alternatives including hedge funds and private market investors under its Endowus Private Wealth (EPW) brand working with the leading global General Partners (GPs) such as Apollo, Ares, Blackstone, Blue Owl, Carlysle, EQT, KKR, Partners Group, and many others. 

Carret Private Capital (CPC), the multi-family office majority-owned by Endowus serving ultra-high-net-worth families, also plays a strategic role in raising the Group’s service of clients across a wide range of segments. While CPC operates independently, it has been adopting Endowus’ client-first, fee-only business model and continues to scale its client assets by benefiting from the Group’s centralised Investment Office and curated access to investment strategies.