Endowus, a Singaporean provider of wealth advisory and investment solutions, closed a $70 million funding round, equal to $90 million Singapore dollars, led by Illuminate Financial. The round totals the firm’s funding at over $130 million, or $170 million Singapore dollars, to date.
The firm will invest the round in developing retirement and pension platforms in Singapore and Hong Kong. As it scales, Endowus will also expand its AI applications alongside its B2B offerings for financial advisors and external asset managers. The firm will invest in geographic expansion across the region as well.
“Wealth management is undergoing a generational transformation driven by demand for aligned advice, greater transparency and better access to solutions,” Samuel Rhee, Endowus’ co-founder and chairman, said in a statement. “We want to be the trusted partner journeying with our clients to help them achieve their desired outcomes in meeting their long-term wealth goals.”
