Syfe Secures USD 27 Mn Funding to Accelerate Growth Across Asia Syfe's new funds will boost its Asia expansion, fund new products, and tech innovations. Key investments include growing the engineering team and enhancing capabilities at its Gurugram tech headquarters.
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Syfe, the saving and investment platform, has successfully raised USD 27 million (INR 226 crore) in its latest funding round, propelling its total funds raised to USD 79 million. The funding round saw participation from existing investors Valar Ventures and Unbound, alongside fresh capital from two prominent UK family offices with interests in fintech and banking.
The newly acquired funds will drive Syfe's expansion across Asia, enabling the rollout of new products and technological innovations in its existing markets. A significant portion of the funding will be allocated to expanding Syfe's engineering and product team, which is the company's largest department, and enhancing capabilities at its tech headquarters in Gurugram, India.
Dhruv Arora, Founder and CEO of Syfe, said, "This funding will enable us to reach more customers and help them grow their wealth for a better future. Through increased investment in development, we will bring even more innovative new products to market while continuously upgrading the Syfe user experience.
"Our technology team will be a crucial enabler of this expansion; without their skill and hard work, we would not have been able to achieve our success to date, nor would our future plans be able to take flight. As a proud Indian, I'm very pleased that we will be able to invest further in Indian talent and grow our team here," Arora added.
Founded in 2019, Syfe provides managed portfolios, brokerage services, and cash management solutions designed to help individuals build wealth and secure a better future. The platform operates in Singapore, Hong Kong, and Australia, serving customers across 60+ countries, with its engineering and product team based in Gurugram.
Mukesh Gupta, Chief Technical Officer, Syfe, said, "Since its inception in 2019, Syfe has expanded across Asia and added countless new user-focused innovations, fuelled by the team we have built in India. The next phase of growth will see a significant expansion of our India team, and we are excited for the challenge of taking Syfe to the next level."
Shravin Bharti Mittal, Founder and CEO of Unbound, added, "Syfe's impressive growth and operational efficiency continue to make it stand out in the fintech space. In the current environment, the company's ability to scale and reach profitability in a key market like Singapore is a testament to the strength of its business model and team."
