Syfe, a Singapore-based digital wealth manager, announced that it has closed S$40 million (around US$30 million) in its latest funding round.

More funding details

Lead investor: Valar VenturesExisting investor: Presight Capital and UnboundStage: Series B

More company updates

The round pushes Syfe’s total amount raised from investors to date to S$70.7 million (around US$52.6 million).The company says that the fundraise more than triples its valuation. This is in line with VentureCap Insights data showing that Syfe’s valuation stood at US$58 million after its series A financing and US$210.6 million after this latest round.The capital injection comes only nine months after Syfe’s series A funding in September 2020, which was also led by Valar Ventures.The startup will use the fresh funds to expand into new markets in Asia, invest in talent, and develop more investment products and services.Since the start of this year, the number of employees in its Singapore office has doubled to 50 people, bringing its total global headcount over 100. Syfe says it’s committed to make every employee a shareholder.