Data Vantage: Wealthtech firms eye expansion; Zimplistic, ShopBack and others secure funds

Data Vantage: Wealthtech firms eye expansion; Zimplistic, ShopBack and others secure funds

Flush with capital, Southeast Asia’s wealthtech platforms are investing heavily in expanding their operations to tap a once-in-a-lifetime opportunity that has emerged during the COVID-19 pandemic.

Singapore-based Svava Pte Ltd, which raised $30 million in its Series B round last month, invested an additional $5 million in its subsidiary Syfe Pte Ltd last week. The investment brought the total capital injection into the wealth management app so far this year to $11 million, corporate filings reviewed by DealStreetAsia – DATA VANTAGE show.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter