The fresh funding comes after barely a couple of months after iSTOX raised $5 million from Japan-based Tokai Tokyo Financial Holdings in November. In September 2019, it raised its Series A funding round led by Thailand’s Kiatnakin Phatra Financial Group.
Through the use of digitised security offerings, iSTOX seeks to offer a more flexible, inclusive, and efficient system for the emerging generation of investors and issuers.
It was admitted into the Monetary Authority of Singapore’s FinTech Regulatory Sandbox in May 2019. The company expects to graduate in the first quarter of 2020.
iSTOX’s other key shareholders include Singapore Exchange (SGX) and Heliconia, a Temasek Holdings subsidiary.
Headquartered in Seoul, Hanwha Asset Management offers financial investment products in equities, fixed income, alternative investments and multi-asset strategies across Korea, South East Asia, China, the U.S. and beyond.
It is a subsidiary of Hanwha Life and is the largest shareholder of Hanwha Investment & Securities.