WEALTH advisory platform Endowus has raised US$17.5 million in funding from new and existing investors on Thursday (Jan 9).
New investors in this round include OSK Ventures, The Wells Investment and basketball star Jeremy Lin’s impact fund, JLIN LLC.
Existing investors include Prosus, UBS and MUFG Innovation partners.
Robert Kim, managing director of JLIN LLC, said: “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.”
This follows a US$35 million round raised last year, taking the cumulative funding round to US$52.5 million. Endowus’ assets under management crossed US$7 billion as at November 2024.
The funding will be used to continue the platform’s expansion in Singapore and Hong Kong, including investment into talent and technology. Endowus will be tapping artificial intelligence to enhance customer experience and operational efficiency.
Samuel Rhee, co-founder and chairman of Endowus, said: “The focus now is to continue to invest in talent and technologies to grow well with our clients.”
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