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Syfe, a financial savings and funding platform, has made a non-binding indicative be offering to procure Selfwealth, an Australian virtual making an investment platform, for AUD$65 million in money.
This transfer follows Syfe’s Collection C-1 fundraising spherical in 2024, the place the corporate defined its process of acquisitions as a key driving force for enlargement.
The proposed deal targets to develop Syfe’s marketplace succeed in, in particular in Australia, whilst improving its product providing.
Syfe, which already has operations in Singapore, Hong Kong, and Australia, is well-positioned to assist Selfwealth scale additional.
Syfe plans for Selfwealth to proceed its operations as customary, with enhancements through the years thru Syfe’s expertise and experience.
Dhruv Arora, Founder and CEO of Syfe, commented,
Dhruv Arora
“As a home-grown Singaporean corporate, we’re proud to be a part of the brand new wave of native fintech avid gamers scaling globally. This acquisition displays the energy of our trade, our ambition, and our trust that wealth control must be each out there and cutting edge, with the investor enjoy on the core of the entirety we do.”
The purchase would supply Selfwealth’s consumers with get right of entry to to Syfe’s broader funding merchandise and technology-driven answers, whilst keeping up the present choices that Selfwealth customers worth.
The corporate reached profitability in early 2024, proving its talent to scale successfully and supply long-term worth to consumers.
Previously 12 months, Syfe has raised SGD$105 million in overall investment and expanded its consumer base to incorporate greater than 5% of Singapore’s grownup inhabitants.
Featured symbol credit score: edited from freepik
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