Syfe, a saving and investment platform, has raised $27 million (₹226 crore) in a funding round from existing investors Valar Ventures and Unbound, and new investment from two UK family offices.
This brings the total funding raised to $79 million.
The funds raised will be used for growth across Asia, with new products and innovations to be rolled out in each of Syfe’s markets. Syfe will also be investing significantly to expand its engineering and product team – the largest team within Syfe – and capabilities at its Gurugram tech headquarters.
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.”
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. I’m proud of the impact engineering has had in building up Syfe over the years. 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, said, “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. We are excited to continue supporting Syfe as it enters this next phase of growth and innovation.”
Founded in July 2019 by Dhruv Arora, Syfe caters to the different wealth needs of individuals with diversified proprietary portfolios, cash management solutions and brokerage. It has customers from 60 countries.
Syfe has become profitable in its home market Singapore since early 2024, driven by a focus on efficient growth. This approach has led to a significant increase in both new customers and assets under management, with average client assets more than doubling since 2023.
